- CFA Exams
- 2024 Level I
- Topic 3. Financial Statement Analysis
- Learning Module 18. Understanding Income Statements
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Learning Outcome Statements PDF Download
| 1. Components and Format of the Income Statement describe the components of the income statement and alternative presentation formats of that statement; | |
| 2. Revenue Recognition describe general principles of revenue recognition and accounting standards for revenue recognition; calculate revenue given information that might influence the choice of revenue recognition method; | |
| 3. Expense Recognition describe general principles of expense recognition, specific expense recognition applications, and implications of expense recognition choices for financial analysis; | |
| 4. Non-Recurring Items and Non-Operating Items describe the financial reporting treatment and analysis of non-recurring items (including discontinued operations, unusual or infrequent items) and changes in accounting standards; contrast operating and non-operating components of the income statement; | |
| 5. Earnings per Share describe how earnings per share is calculated and calculate and interpret a company's earnings per share (both basic and diluted earnings per share) for both simple and complex capital structures; contrast dilutive and anti-dilutive securities and describe the implications of each for the earnings per share calculation; | |
| 6. Analysis of the Income Statement formulate income statements into common-size income statements; evaluate a company's financial performance using common-size income statements and financial ratios based on the income statement; | |
| 7. Comprehensive Income describe, calculate, and interpret comprehensive income; describe other comprehensive income and identify major types of items included in it. |
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