The background information for the module includes the basic concepts. but for more ideas go to the optional background source principlesofaccounting.com. The site also offers multiple videos that you may find relevant. You may also use other sites for additional ideas to complete the assignment. Do not forget to reference the sources used.
Part 1 Write a minimum of 300 words about the role of the income statement. • Comment on some significant characteristics of the income statement. • Who is interested in the information?
• What kind of information does the income statement convey to users?
Sample Solution