Single Step Income Statement

This video shows how to create a single-step income statement. A example is presented to show how a single-step income statement can be created from an adjusted trial balance.
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[@TACOSonSTEROIDS]

Love these videos!!! As someone who understands accounting well, I can attest that you explain this better than most who try.

[@max-zl1vm]

these videos make my theory class so much easier

[@MyFinancialFocus]

Short and simple. Thanks!

[@anthonyhendricks27]

Great Video! Very Helpful! I have to say though, an alligator petting zoo sounds like some very risky business! Lol. Thanks!

[@Edspira]

Glad you enjoyed the video and found it entertaining!

[@seiranavarro4727]

So helpful! Thanks!

[@worldfamousbiographies4149]

Which one of these methods you are recommended? I like to solve single step method . Can it is suitable like other methods?

[@thutram2218]

I have one question for you
Why isn't interest payable included?

[@Khron10]

Sir what happened to the cost of good sold? Isnt included in the single step?

[@icecold1805]

He included it... 2:55... maybe you didn't recognize it cause of it's abbreviation (COGS)?

[@cherylm2C6671]

Gator kisses?

[@cherylm2C6671]

I apologize. The petting zoo might be the kid's area side of a gator farm (belts, wallets, boots...).

[@aleahnicolemilitar7166]

Sir, what type of expense is the depriciation?

[@Edspira]

Depreciation is an operating expense. Depreciation expense can appear as a separate line item listed among the operating expenses or it can be included in SG&A expense. For some companies, there might also be some depreciation included in COGS (cost of goods sold). For example, a manufacturer's COGS would include depreciation pertaining to the equipment and machinery used in its factories.

[@h.hassan7424]

Nice video,
kindly someone tell me the following comes in operating income or not?
1. Other operating income
2. Other operating expense
3. Profit/Loss on equity-method investments, net
4. Other financial income/expense, net
thanks in advance

[@MyFinancialFocus]

I think it depends on the business. Some financial statements list similar items under different names and some corporations debit and credit different accounts when making the same transaction.

[@aestheticyang2288]

Thank you so much

[@paulrozario6112]

can anyone tell me which app has been used to do this accounting sum

[@cgbangladesh5214]

what about that unearned revenue sir?

[@Edspira]

Unearned Revenue is a liability, so it would go on the Balance Sheet. Here's a video on unearned revenues if you want to learn more: edspira.com/topic/unearned-revenue Thanks for watching!

[@PJO4evaXD]

why aren't dividends also counted as part of the revenue?

[@UmeshAwasthi-o8q]

Umesh awasthi
1:21