by Ken Boyd | Publisher: Infinite Skills | Release Date: April 2016 | ISBN: 9781771375849

In this Understanding an Income Statement training course, expert author Ken Boyd will teach you how to use the income statement to make business decisions. This course is designed for users that have a basic level of business knowledge.You will start by learning about terms, such as revenue, expenses, and net income. From there, Ken will teach you about cash basis versus accrual basis accounting. Finally, this video tutorial will teach you about net income versus cash flows, including sales and receivables, cash basis and accrual basis transactions, and cash flow forecasting.Once you have completed this computer based training course, you will have learned what an income statement is, how to read it, and how to use the income statement to make business decisions. Working files are included, allowing you to follow along with the author throughout the lessons.

1. Introduction
   • Course Intro And What To Expect 00:03:26
   • About The Author 00:01:48
   • Why The Income Statement Is Important 00:07:10
   • How The Income Statement Affects Other Financial Statements 00:07:08
   • Debits And Credits And Journal Entries 00:08:21
2. Terms
   • Revenue, Expenses, Net Income: Defined 00:07:40
   • Operating Vs Non-Operating Income 00:06:32
   • Expensing Vs Capitalizing 00:07:22
3. Cash Basis Vs Accrual Basis Accounting
   • The Matching Principle, Accrual Accounting 00:06:33
   • Cash Basis Accounting 00:06:07
   • Example Transactions 00:06:55
4. Net Income Vs Cash Flows
   • Sales And Receivables 00:06:48
   • Financing Your Business: Income Statement Impact 00:06:31
   • Financial Ratios To Track Your Business 00:06:57
   • Cash Basis And Accrual Basis Transactions 00:06:45
   • Cash Flow Forecasting 00:04:27
5. Conclusion
   • Wrap Up 00:04:39