INCOME STATEMENT
A financial statement that measures a company's financial performance over a specific accounting period. This could be over a month, half year or whole year. Financial performance is assessed by giving a summary of how the business incurs its revenues and expenses through both operating and non-operating activities. It also shows the net profit or loss incurred over a specific accounting period, typically over a fiscal quarter or year. The Income Statement determines whether or not a business is making a profit. Some example Income Statements can be viewed below.
TRIVIA: The Income Statement is also known as the "profit and loss statement" or "statement of revenue and expense".
You can download a Balance Sheet template from the templates link on this website.
TRIVIA: The Income Statement is also known as the "profit and loss statement" or "statement of revenue and expense".
You can download a Balance Sheet template from the templates link on this website.