The income statement format where the operating and nonoperating revenues are grouped and totaled and the operating and nonoperating expenses are grouped and totaled. Then there is one subtraction of the combined expenses from the combined revenues. An alternative format is the multiple-step income statement.
Featured Review
"AccountingCoach is a simply fantastic self learning source. The way it explains various accounting concepts in such a simple and self explanatory manner is really commendable. Being an engineering student with no past accounting background, AccountingCoach has been a great saviour in my MBA accounting module. The Balance Sheet, Statement of Cash Flows, and Income Statement all have been explained very beautifully. Thank you AccountingCoach. Keep up the good work." - Amber A.
Join PRO or PRO Plus and Get Lifetime Access to Our Premium Materials
Read all 2,645 reviewsWe now offer 10 Certificates of Achievement for Introductory Accounting and Bookkeeping: