What are the differences between the single step income statement and multiple step one?

The main difference between the direct method and the indirect method involves the cash flows from operating activities, the first section of the statement of cash flows. (There is no difference in the cash flows reported in the investing and financing activities sections.)

Under the direct method, the cash flows from operating activities will include the amounts for lines such as cash from customers and cash paid to suppliers. In contrast, the indirect method will show net income followed by the adjustments needed to convert the total net income to the cash amount from operating activities.

The direct method must also provide a reconciliation of net income to the cash provided by operating activities. (This is done automatically under the indirect method.)

Nearly all corporations prepare the statement of cash flows using the indirect method.

single step inc statem. =rev - expenses

multiple steps inc statement :  rev - exp - taxes - cogs

 single-step income statement is one of two commonly used formats for the income statement or profit and loss statement. The single-step format uses only one subtraction to arrive at net income.while The multi-step income statement includes multiple sub-totals within the income statement. This layout makes it easier for readers to aggregate selected types of information within the report. 

A single- step income statement offers a very straightforward  accounting of a company's business activity.All revenue and gains are added together at the top of the statement,while all of the losses and expenses are totaled below them.

*Multi- step income statement offers detailed information about the gross profit and operating profit of a company.

*Operating sections of the statement generally involve revenues and expenses, while nonoperatimg sections detail the gains and losses of iundirect activity

Single-step 

single subtotal for all revenue line items and a single subtotal for all expense line 

Multiple-Steps 

Revenue then COGS= Gross Profit  then Operating Expenses = Operating Income  then non-operating Last Net Income 

A multiple-step income statement reveals the company's gross profit, which is the difference between its sales revenue and its cost of goods sold, and operating profit, which is the difference between its gross profit and its operating expenses.