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The income statement is one of a company s core financial statements that shows their profit and loss over a period of time.
Income statement and meaning. An income statement provides valuable insights into a company s operations the efficiency of its management under performing sectors and its performance relative to industry peers. Bplans glossary also called profit and loss statement an income statement is a financial statement that shows sales cost of sales gross margin operating expenses and profits or losses. What is an income statement. The income statement is one of the main four financial statements that are issued by companies.
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. Balance sheet income statement statement of owner s equity and statement.
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