Income Statement Definition English

Balance sheet income statement statement of owner s equity and statement.

Income statement definition english. 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 also referred to as profit and loss statement p l revenue statement statement of financial performance earnings statement operating statement or statement of operations 1 is a company s financial statement that indicates how the revenue money received from the sale of products and services before expenses are taken out also known as the top line is transformed. Meaning pronunciation translations and examples. A financial statement that summarizes the various transactions of a business during a.

An income statement is one of the three along with balance sheet and statement of cash flows major financial statements that reports a company s financial performance over a specific accounting. Meaning of income statement. We have audited the accompanying financial statements of the united nations population fund unfpa which comprise the statement of assets liabilities and reserves and fund balances statement 2 as at 31 december 2009 and the income and expenditure statement and fund balances statement 1 and the statement of cash flows statement 3 and the statements of regular resources movement. The income statement also called a profit and loss statement is a report made by company management that shows the revenue expenses and net income or loss for a period.

Income statement definition an accounting of income and expenses that indicates a firm s net profit or loss over a certain period of time usually one year. Information and translations of income statement in the most comprehensive dictionary definitions resource on the web. 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. A document that shows a company s profit or loss in a particular period of time.