BU387 Study Guide - Final Guide: Society Of Cable Telecommunications Engineers, Net Income, Income Tax
Document Summary
Owne(cid:396)"s e(cid:395)uity accounts: capital shares, contributed surplus, retained earnings, accumulated other comprehensive income. Order of financial statements: income statement, statement of equity, balance sheet, statement of cash flows. Ending balance reported (beginning re + net income dividends = ending re) Continuing operations: a) operating section: non-operating section, income tax (on above sections) Discontinued operations: a) income/loss from operations b) gain/loss from disposition. Reported net of taxes; ifrs doesn"t have this. Other comprehensive income: a) includes other gains/losses not included in net income. Any gains/losses from discontinued operations must be disclosed separately from continuing operations. Eps on net income xxx xxx xxx xxx xxx xxx xxx xxx. Earnings per share (eps) = net income preferred dividends. Assume that scte has income before income tax and discontinued operations of ,000 and a gain from the sale of one of its operations of ,000. The income tax rate is assumed to be 40%.
