Analyzing Profitability Measuring Income--Estimation Issues Income measurement depends on estimates of future events These estimates require: Use of judgment and probabilities Allocations of revenues and expenses across periods I. Prediction of the future usefulness of many assets I. Forecasts of future obligationsAnalyzing Profitability Measuring Income--Estimation Issues Income measurement depends on estimates of future events These estimates require: • Use of judgment and probabilities • Allocations of revenues and expenses across periods • Prediction of the future usefulness of many assets • Forecasts of future obligations