Although the basics of an income statement are the same from business to business, there are notable differences between services, merchandisers, and manufacturers when it comes to the accounting ...

Anderson is CPA, doctor of accounting ... reduce taxable income or smooth earnings. Although this method may comply with accounting rules, it can create misleading financial statements if done ...

Examples include office salaries ... statement is designed to convert the accrual basis of accounting used to prepare the income statement and balance sheet back to a cash basis.