Accountingcoach Income Statement Example

The purpose of the income statement is to report a summary of a company s revenues expenses gains losses and the resulting net income that occurred during a year.

Accountingcoach income statement example. Let us name the company strauss printing services all amounts are assumed and simplified for illustration purposes. Balance sheet example accountingcoach simple income statement and template exam spreadsheet for everyone personal sample south africa. It is one of a company s main financial statements. The income statement is one of the major financial statements used by accountants and business owners.

The income statement is also known as the statement of operations profit and loss statement and statement of earnings. Start studying accountingcoach 10. The other major financial statements are the balance sheet statement of cash flows statement of comprehensive income and the statement of stockholders equity the income statement is sometimes referred to as the profit and loss statement p l statement of operations statement of. Multiple step income statement accountingcoach.

Learn vocabulary terms and more with flashcards games and other study tools.