Qusetion: Visit the SEC's Web site. Select a company filing of your choice that contains a multiple-step income statement. Communicate your selection with your group (each of you should submit a different company). Submit the link to this filing as proof of your research.
Prepare a process documentation that is prepared in a professional manner because it will be the desktop guide used by others in the event of your absence to prepare the financial statements for Music Warehouse.
is in the form of a memorandum or as a numbered listing of items, depending on your individual preference.
includes the following elements:
a definition and description of the specific sections of the income statement
a description of the different methods of preparing income statements
an explanation of the conceptual guidelines for reporting income
how to handle the special types of income statement items