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Finance & Accounting
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Name: Instructor’s Name: Course: Date: December 7, 2012 INCOME STATEMENT PepsiCo has prepared its income statement based on multi-step format such that different the all the expenses are separated according to their nature and subtracted one by one from the net revenues in order to provide operating profit first, followed by income before income tax, net income and lastly income attributable to PepsiCo shareholders.


As per the requirements of US GAAP and Securities and Exchange Commission, the income statement of PepsiCo shows the comparative financial performance of the company over last three years, i.e. 2009, 2010 and 2012. There is one extra ordinary item is also included with the head of “bottling equity income”. However, this item was of non-recurring nature such that it was present in the income statements of 2009 and 2010 but in 2011, this figure was not shown by the company. The requirement to show both basic and diluted earnings per share is also provided in the income statement of PepsiCo. There are few optional items also presented by the company in order to provide more meaningful picture of the company especially to its shareholders such as weighted average number of ordinary shares outstanding and dividend per share declared by PepsiCo over last three years. Contingencies Contingencies, is a specific type of liability under which account head is presented on the face of the balance sheet but its amount is not showed. Generally, contingencies include those items the results of which can go either in favor or against the company such as lawsuits, long-term contractual obligations, commitments etc. ...
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