Every income statement can have its own set of issues.
There are several things to consider from a financial statement basis perspective. Revenue and expense recognition can be a timing issue when it comes to accrual vs. cash basis. Your basic accounting recognizes the revenue in the period in which it is earned and the expense is recognized in the period in which it is incurred, regardless of if cash comes in or not. In this video our speaker, David L. Osburn, M.B.A., CCRA, reviews several income statement issues including inventory costing and depreciation; as compares operating expenses vs. improvements.
David L. Osburn, M.B.A., CCRA
Osburn & Associates, LLC
- Founder of Osburn & Associates, LLC
- Contract CFO clients include medical practitioners, financial institutions, law firms, CPA firms, architects, real estate developers, and contractors
- Extensive professional background of over 30 years encompasses 21 years as a business trainer/contract CFO and 16 years as a bank commercial lender including the position of vice president/senior banking officer
- Banking credentials include loan underwriting, loan work-out, management, and business development
- Has been an adjunct college professor for over 30 years including the College of Southern Nevada
- Holds the professional designation of Certified Credit & Risk Analyst (CCRA) as granted by the National Association of Credit Management (NACM)
- M.B.A. degree, Utah State University; B.S. degree in finance, Brigham Young University; graduate of the ABA National Commercial Lending School, University of Oklahoma
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