图/NikolayFrolochkin ；文/Jess
1.What is the purpose of an income statement?
An income statement measures the profit or loss of an entify.
2.What is the basic structure of an income statement?Provide a simple formula.
A company's revenue less expenses drives profit or loss.
Revenue-Expenses=Profit(Loss)
3.What are the nine major inncome statement components?
1.Revenue(sales)
2.Cost of goods sold
3.Operating expenses
4.Other income
5.Depreciation and amortization
6.Interest
7.Tax
8.Non-recurring items
9.Distributions
4.How does cost of goods sold differ from other operating expenses?
Cost of goods sold are the costs most directly related to the product sold.This includs the material cost used in creating the product.Operating expenses are indirect expenses such as overhead or marketing costs.
5.Please indicate whether the following expenses are most likely to be cost of goods sold or operating expenses.
a.Rent
b.Raw material
c.Salaries
d.Marketing
e.Finished goods
Answer:
a.Operating expenses
b.Cost of goods sold
c.Operating expenses
d.Operating expenses
e.Cost of goods sold
6.What does EBITDA stand for?
Earning before interest,taxes,depreciation and amorization.
7.What is the formula for EBITDA margin?
EBITDA Margin = EBITDA / Revenue
8.What does EBIT stand for?
Earning before interest and taxes
9.What is other income?Please provide an example.
Other income is earning generated that is not core to the business or not related to everyday business activites.An example is income generated from financing the sale of a car. The actual sale of the car in a car business would be considered revenue ,but the financing income could be considered other income.
10.How could one determine if other income should be included or excluded from EBITDA?
It depends.Although not core to revenue, if the other income is believed to be core enough to the company's operations and if it appears consistently, then it could be considered as part of EBITDA.
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