1. The heading of the income statement must

be placed at the center.

2. The accounts must be arranged from

highest to lowest amount or according to

relative importance to the user.

3. Miscellaneous accounts, whether income or

expense account must be written as the last

account regardless of the amount.

4. The peso sign must be written on the first

amount in every arithmetic operation and

every after ruling.

5. The single rule to all additions and the

double rule for the final results whether it is

net loss or net income must be applied.