In this module, you'll explore the major ways that a business spends its cash on various activities (expenses) and how those expenses impact the bottom line of the business. You'll examine multiple impacts to the the expense figures on the income statement including common start-up expenses, the expenses service companies incur, the expenses merchandising companies incur, and the expenses manufacturers incur. By the end of the modules, you'll be prepared to recognize key features that fall under expenses that a business reports on the income statement.

In this module, you'll explore the concept of how gains and losses a treated for financial reporting purposes. As part of this understanding, you'll dive deeper into the differentiation between tangible and intangible assets. You'll then gain a further understanding on how longer-term assets are impaired over time under Generally Accepted Accounting Principles. By the end of the module, you'll be prepared to recognize key asset types and how their gains or losses are treated for reporting purposes.

This final module brings everything together. You’ll review key concepts from the course and apply what you’ve learned to real-world business situations. By stepping back and looking across revenue recognition concepts, you’ll strengthen your ability to analyze how various business activities impact the income statement—skills that are essential for accountants and business professionals alike.