ASC 220: income statement
Plain-English guides to the US GAAP income statement, each with a worked example.
1 guide
Related guides in other sections
- IFRS 18 vs US GAAP: income statement presentation3 minute readIFRS 18 vs US GAAP income statement presentation: required subtotals, operating profit, expense disaggregation under ASU 2024-03, and MPMs vs non-GAAP rules.
- IFRS 18 aggregation and disaggregation: grouping items and the end of "other"2 minute readIFRS 18 rules on grouping items: when to combine or split, limits on the label other, and the note of five expenses by nature for function-based statements.
About these guides
The guides explain the standard in our own words, with our own examples, and point to the paragraphs they rely on. They are general information, not advice for your situation. Read them alongside the standard itself, and check when your regulator adopts it.