the location of discontinued, unusual, infrequent, extraordinary expenses on the I/S? are those the only 4 or is there one more? i believe all of them would go above NI but if its unusual AND infrequent then it goes below?
This is from my level 1 notes. I did it right before the exam last year. I can’t guarantee that it’s 100% right. It’s up for you to decide… REVENUE - COGS = GROSS PROFIT - SELLING, GENERAL, AND ADMINISTRATIVE EXPENSE = OPERATING PROFIT - INTEREST EXPENSE (OPERATING EXPENSE FOR FINANCIAL FIRMS) = INCOME BEFORE TAX ± UNUSUAL/INFREQUENT ITEMS - TAXES = INCOME FROM CONTINUING OPERATIONS ± DISCONTINUED OPERATIONS NET TAX ± EXTRAORDINARY ITEMS NET OF TAX = NET INCOME
i know theres definitely one below NI…i have a feeling its discontinued ops…i have the schweser level 1 refresher but thers no freeakin index in the back so i cant fnd it