Asked by Claudia Holton on May 04, 2024
Verified
Earnings per share amounts are only required to be presented for income from continuing operations and net income on the face of the statement.
Income from Continuing Operations
The profit or loss generated from a company's regular business activities, excluding extraordinary items or discontinued operations.
- Gain an understanding of the repercussions of atypical elements and shifts in accounting guidelines on financial documents and indices.
Verified Answer
AA
Abdullah AladibMay 05, 2024
Final Answer :
True
Explanation :
This is true according to the Generally Accepted Accounting Principles (GAAP). Earnings per share amounts are not required to be presented for discontinued operations, extraordinary items, or other comprehensive income. However, if a company chooses to present EPS for those items, it must be prominently displayed and clearly labeled as such.
Learning Objectives
- Gain an understanding of the repercussions of atypical elements and shifts in accounting guidelines on financial documents and indices.
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