Income Statement Breakdown Template

Single step income statement.

Income statement breakdown template. Income statement can be recognized as a financial statement of the business organization or company that shows its revenues subtracting various costs and expenses over a mentioned period of time. This template is intended to be a simple and practical tool to be adjusted and used by smes working in all sectors. The period of time that the statement covers is chosen by the business and can vary. The income statement is important because it shows the profitability of a company during the time interval specified in its heading.

As you can see this example income statement is a single step statement because it only lists expenses in one main category. Boc hong s in come statement includes all of the major items in the list above except for discontin ued operations. Along with the balance sheet and the cash flow statement the income statement is one of the three basic financial statements. Income statements are usually.

It is also known as profit and loss statement statement of profit or loss revenue statement statement of financial performance and. It is similar to the income statement. Projected income statement is a ready to use template in excel google sheets and openoffice to represent the estimated income statement for the future period. Investors and business managers use the income statement to determine the profitability of the company it is one of three major financial statements required by gaap generally accepted accounting principles.

Here is an example of how to prepare an income statement from paul s adjusted trial balance in our earlier accounting cycle examples. The document calculates net income of a business entity or company by subtracting total expenditures made in the whole year from total income generated by all resources. This income statement template was designed for the small business owner and contains two example income statements each on a separate worksheet tab see the screenshots the first is a simple single step income statement with all revenues and expenses lumped together. The second worksheet shown on the right is a multi step income statement that calculates gross profit and operating income.

Elements of income statement template. Use this accessible template to create an income statement. Moreover you can prepare the income statement monthly quarterly half yearly as well as yearly. In arriving at net income the statement presents the following subtotals.

An income statement also known as a profit and loss statement shows revenue and expense over a period of one year.