ACCT 304 Week 2 Discussion 2

ACCT 304  Week 2 Discussion 2 | Devry University

Week 3: Income Statement

Students often refer to an income statement as the statement that shows how much money a company has made. Money, by definition, is something that is generally accepted as a medium of exchange or means or payment. Keeping that definition in mind, an income statement is not a measure of money, but rather it is a measure of net income (or loss) also known as profit (or loss). Select a publicly held company like Apple, Microsoft, IBM, Hewlett Packard, Home Depot (Note: do not select a company already chosen by your classmate). Go to their website and select Investor Relations and there you will find the company's annual report. Provide the link to that annual report and based on what you have read about income statements in this chapter and in the Becker materials, tell us what you have learned about the company from reviewing its income statement.

Alternative Discussion Topic: You may elect to choose a tweet from the FASB Twitter Feed (@FAFNorwalk) integrated into the home page of this course, summarize the overarching topic of the tweet and related article or video, and connect it to a topic we've studied in class this week. If a classmate has chosen a feed in which you're interested, agree with their summary and position by providing further supportive evidence from the book or online, or disagree and provide evidence that supports your position. Feel free to comment on current or recent tweets.