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Do you think Netflix Inc will be able to use a single income statement format? since...

Do you think Netflix Inc will be able to use a single income statement format? since they do not sell physical? Cite reference and sources.

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Answer #1

Netflix Inc will be able to use a single income statment. However, the format of the income statment would be quite diifferent. As Netflix Inc do not sell physical, the requirement of cost of material consumed, increase /decrease in inventory would not be applicable. Other than this all the other requirement need to be reported such as Interest Cost, Employee Benefit Expense and other cost of revenues. Please download 2018 Annual report of Netflix Inc from the below link and go to page no. 40 where you will find the single income statment of Netfilx Inc for year ended 2018.

Source: https://www.netflixinvestor.com/financials/annual-reports-and-proxies/default.aspx

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