*Reading 24 Understanding Income Statement
1. Base法则 Net income = (revenue - ordinary expenses) + (other income - other expenses) + (gain利得 - losses损失(一次性非重复的non-recurrent)); (1) net revenue = revenue - adjustments预估三包费用; (2) non controlling interest (minority interest) 少数股东损益; (3) single format/multi-format后者有gross profit;
2. Gross profit/margin = revenue - COGS主营业务成本; operation profit/income/EBIT = gross profit - operating expenses
3. (1) unusual or frequent items vs. extraodinary items (后者更少见，指充公、提前偿还债券、不被保险的自然灾害); (2) discontinued operation 指 plans to dispose之日，而非actual disposal date; (3) accounting changes: accounting principle/estimate/ error
4. Delivery Method* (1) 货物交割服务提供; (2) 收回款项可以确信；(3) IASB: 基础the risk and reward of ownership is transferred, there is no continuing control or management over the goods sold, there is a probable flow of economic benefits, 相同点 revenue can be reliably measured, 特有 the cost can be reliably measured; (4) SEC: 基础the product has been delivered or the service has been rendered, the seller is reasonably sure of collecting money, 相同点the price is determined or dertminable, 特有there is evidence of an arrangement between buyer and seller; (5) matching principle配比原则, 和收入相关的费用，都在当期确认。
5. Revenue recognition: (1) LT Contract一年以上: reliable estimate可靠计量 (POC precentage of completion完工百分比法) & cannot be reliability estimate不可靠计量 (GAAP completion contract method CC完工合同法 都最后确认 vs.IFRS无名法 根据当年成本发生的多少，同等比例确认收入，利润最后确认)*不同的会计方法不会影响公司的总现金流，但可能会影响现金流的分类; (2) installment contract分期收款: 1) GAAP:不可靠计量-installment sales method(类似于POC) vs.回收可能性高度不确定-cost recovery method回收成本法 (可确定的话用delivery method); 2) IFRS: 可预期-折现值和收款之差视为利息收入；不可预期-营业收入类似cost recovery method成本回收法
6. Barter transaction以物易物: (1) round-trip transaction (例如两个互联网公司相互打广告); (2)IFRS: fair value, unrelated party, 曾收到过现金; (3) GAAP: historically, fair value
7. (1) Gross revenue reporting: 同时满足4要件才可以用 primary obligor, independently choose its supplier, tolerate risk involved, free to determine the price; (2) vs. net revenue reporting (扣减adjustment) e.g.携程订机票
8. Earnings per share (EPS):used to measure profitability of listed firms可以用来跨行业和历史比较。市盈率指:1) 挣一块钱的股票卖了多少钱；2)投资公司多少年回本
(1) Basic EPS: 1) new issue, repurchase is weighted by time按时间进行加权 (days or months); 2)stock divident and split shall be adjusted in retroactive way不按时间进行加权
(2) *Diluted EPS(covertible debt, convertible preferred stock, stock option, warrants): 1) 加回去的优先股股利必须是可以转换的，如果不能转换就不需要加回去; 2) 考试一般算完两个，低的是DEPS; 3) 可转债转股在7月1日转，则加回的利息只能算后半年的，分母也要考虑按照时间加权算后半年的。
(3) Treasury stock method库存股法 (stock options or warrants) assume firm use the amount received from conversion of options and warrants to repurchase its shares at average market price假设把行权收到的价格都用市场价格行权了（不是真的没影响，或真的回购）. 考点：Equity抵减、无分红权无投票权。
9. CI = NI + OCI*会考范围和概念(foreign currency translation, unrealized G/L on derivatives contracts accounted for as cash flow hedges, unrealized G/L on available for sale securities, certain costs of a company's defined benefit post-retirement plans+IFRS changes in the value of long-lives assets)
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