Facilitator Guide
Income Statements
Facilitator Guide
Income Statements
- Topic
- Accounting & Finance
- Duration
- Format
- Remote or in person
What’s covered
- General description and structure
- Revenue
- Cost of sales
- Selling, General & Administrative Expenses
- Non-operating items
- Income tax expenses
- Measures of profitability
Before the session
Prepare the Attendees
Send the attendees an invitation for the session. Include this link, which has the videos and exercise they’ll need to prepare.
https://www.hotshotlegal.com/trainings/income-statements/attendee
Prepare Yourself
Watch the videos and read the exercise so you’re familiar with the Hotshot material.
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Course
The income statement shows whether and how a company made or lost money over an accounting period. This course describes the income statement and the common classifications of revenue and expenses you’ll see on it. It also explains different measures of profitability such as net income, EBIT and EBITDA.
During the session
- What are some of the other names for an income statement?
- What does an income statement tell us?
- How does an income statement differ from a cash flow statement?
- How are revenue and expenses often categorized?
- What does cost of sales include?
- What are some examples of indirect costs?
- What are non-operating items on an income statement?
- How do you figure out a company’s gross profit? Its gross profit margin?
- What’s EBIT? EBITDA?
- Anecdotes and war stories (e.g., about a near-disaster or a tough negotiation)
- General practice tips (dos and don’ts)
- Firm-specific guidance and practices
After the session
About Hotshot
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