Income Statement Gcse Business

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Income statement gcse business. Revenue cost of sales gross profit profit profit was known as net profit in the 2014 and previous syllabuses and retained profit. In addition this can also be compared with other businesses in the same industry. An income statement shows the business financial performance over a given time period e g. 5 3 income statements syllabus aim is to draw up an income statement to highlight why profit is important to a business.

In this section you will be required to learn about. The income statement is a historical record of the trading of a business over a specific period normally one year. It shows the profit or loss made by the business which is the difference between the firm s total income and its total costs. This worksheet is applicable for both ks4 and ks5 and relevant for all exam boards.

Jim is a well known business writer and presenter as well as. Main features of an income statement e g. An income statement shows a business s profits and losses an income statement profit statement statement shows the profit or loss made by a company over a set period of time. Worksheet to help students calculate an income statement and to learn the different financial formulas that are associated with it.

Gcse business studies revision covering financial accounts the purpose of financial accounting capital and revenue expenditure profit and loss accounts trading account appropriation account balance sheets balance. Income statement task about this resource info created. The income statement shows the business has made a gross profit of 320 000 before considering. Jul 17 2018 pptx 144 kb income statements with assessment pdf 124 kb income statement task report a problem categories ages business and finance 14 16.