Partial Statement Of Income

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 operating statement or statement of o.

Partial statement of income. 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. Assume 20 000 shares of common stock were outstanding during 2010. A compute net income for 2010 b prepare a partial income statement beginning with income from continuing operations before income tax and including appropriate earnings per share information. An income statement usually covers a full year.

A partial income statement is generally prepared by the company when there are certain or uncertain changes that affect the company s financial performance and is reported for only a part of the accounting period. A partial income statement reports information for only part of a normal accounting period this tends to be a special purpose document that is only used once. Partial statement of comprehensive income for the year ended december 31 2014 income from continuing operations 12 600 000 discontinued operations loss from operation of discontinued restaurant division net of tax 315 000 loss from disposal of restaurant division net of tax 89 000 404 000 net income 12 196 000 other comprehensive income items that may be reclassified subsequently to net. However a partial income.

However the income statement may be drawn up for shorter periods such as one month or three months quarterly income statement. For example a company may have acquired another business in the middle of a month and so only needs the financial results of the acquiree for the remaining days of the accounting period for consolidation purposes. The statement of operations is more commonly referred to as an income statement profit and loss statement or p l statement. Normally we prepare an income statement for a single month or for a year.

Income statement accounting period. A partial income statement reports information for a part of an accounting period. Single step 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.

As you can see this example income statement is a single step statement because it only lists expenses in one main category.