In this article, we explain in details the definition of the multi-step income statement with examples, and also explain the type of business that uses the multi-step approach.
Explanation of the single-step income statement in greater details. Find out the accounting equation to compute the net profit using the single-step income statement and examples of single-step income statement.
Everything you need to know about the income statement - from the definition of what income statement to the reasons why businesses need to prepare an income statement.
There are two different types of income statement that a company can prepare such as the single-step income statement and the multi-step income statement.