Formerly Known As Income Statement

Income statement also referred to as profit and loss statement p l revenue statement statement of financial performance earnings statement operating statement or statement of operations is a company s financial statement that indicates how the revenue cash or credit sales of products and services before expenses are taken out is transformed into the net income the result after all.

Formerly known as income statement. The income statement is one of a company s core financial statements that shows their profit and loss over a period of time. An income statement or profit and loss account also referred to as a profit and loss statement p l statement of profit or loss revenue statement statement of financial performance earnings statement statement of earnings operating statement or statement of operations is one of the financial statements of a company and shows the company s revenues and expenses during a particular period. Examples of service businesses are medical accounting or legal practices or a business that provides services such as plumbing cleaning consulting design etc. Personally i believe this information is important as stock price movements tend to mirror stock profits over the long term which is a reason why.

It is one of a company s main financial statements. The income statement is also known as the statement of operations profit and loss statement and statement of earnings. Also known as the profit and loss statement or the statement of revenue and expense the income statement primarily focuses on the company s revenues and expenses during a particular period. The income statement format above is a basic one what is known as a single step income statement meaning just one category of income and one category of expenses and prepared specifically for a service business.

Income statement also known as a profit or loss statement p l is one of the major financial statements that shows all revenues and expenses of a business and how much profit or loss a company has made over a given time period. The income statement of a company is a financial statement that details the revenue a company makes compared with the expenses it incurs thus why it can also be referred to as the profit and loss. The profit or loss is determined by taking all revenues and subtracting all expenses from both operating and non operating activities this statement is one of three statements used in both corporate finance including financial modeling and accounting. 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.