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 an Income Statement template on 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 an Income Statement template on the Templates link on this website.