Header For Income Statement

Add your business details and the reporting period covered by the income statement.

Header for income statement. Subtract the income tax from the pre tax income figure and enter this amount on the last and final line of the income statement as the net income figure. The income statement also called the profit and loss statement is a report that shows the income expenses and resulting profits or losses of a company during a specific time period. The header is followed by revenue and cost of goods sold and calculation of gross profit. The income statement above shows five full calendar years plus a last twelve months ltm period as of 9 30 13.

In the header of the document identify it as an income statement include the name of the business and the date range covered by the income statement. The heading of the income statement conveys critical information. The second is that an income statement is based on a few very simple concepts which you already understand. A typical income statement is in report form.

The income statement can either be prepared in report format or account format. An extremely condensed income statement in the single step format would look like this. The income statement is one of a company s core financial statements that shows their profit and loss over a period of time. Chapter 4 income statement and related information 4 5 illustration 4 3 condensed income statement boc hong company income statement for the year ended december 31 2011 net sales 2 972 413 cost of goods sold 1 982 541 gross profit 989 872 selling expenses see note d 453 028.

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. To finalize your income statement add a header to the report identifying it as an income statement. A single step income statement is one of two commonly used formats for the income statement or profit and loss statement. 2 income statements can be generated using the cash or accrual accounting method.

Finalize the income statement. The single step format uses only one subtraction to arrive at net income. Enter the figure into the final line item of your income statement. The basic suite of financial statements a company produces at least annually consists of the statement of cash flows the balance sheet or statement of financial position and the income statement.