E ISSN: 2583-049X

International Journal of Advanced Multidisciplinary Research and Studies

Volume 3, Issue 5, 2023

Income Statement for the Provision of Information for Information Users' Evaluation and Forecasting

Author(s): Vu Thi Kim Duong


An income statement is a report that shows an enterprise's operating performance for a specific time period. The income statement is separated into multiple components based on the nature of income and expenses to help information users analyze the business's performance. The Ministry of Finance's Circular 200/2014/TT-BTC "Guidance on corporate accounting regime" dated December 22, 12, 2014, made several changes to financial statements in general and income statements in particular. Income statements are crucial in financial reporting because they help information users make decisions. However, the information on the income statement does not accurately reflect the nature of the event, making it difficult for information consumers to analyze the current position and forecast the business's future earnings. The study introduces the notion of income reporting, the consequences of income statements, and the classification of intermediate components of income statements that influence the use of income statement data. At the same time, the study provides an overview of the current state of income reporting in Vietnam as well as solutions for completing income reporting in Vietnam.

Keywords: Income Statement, Revenues, Expenses, Operating Section, Nonoperating Section, Discontinued Operations, Extraordinary Items

Pages: 1472-1474

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