Hello in this presentation we will discuss the income statement objectives. At the end of this presentation, we will be able to describe what an income statement is list the parts of the income statement and explain the reasons for an income statement. First, we’ll start off with a question we’ll which will explain the timing of the income statement or introduce us to an explanation of the timing of the income statement? And that is the question of asking somebody, how much do you make when we work through if we were to ask somebody how much they make? They would mentally make some type of assumption in order to answer that question, or they would ask you the question if they chose to answer at all. The question, What do you mean? Do you mean per month? Do you mean per year? Do you mean per week? And this is going to be something that needs to be answered in order to answer the question.
