Income Statement Term Definition

What is an income statement.

Income statement term definition. Prepared on a monthly quarterly or annual basis. Meaning of income statement. The income statement is also referred to as the profit and loss statement p l statement of income and the statement of operations. Information and translations of income statement in the most comprehensive dictionary definitions resource on the web.

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. Balance sheet income statement statement of owner s equity and statement. 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. Read business terms glossary by.

Income statement definition and meaning. One of the main financial statements along with the balance sheet the statement of cash flows and the statement of stockholders equity. 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 is a financial statement that reflects the results of the operations of a firm over a specified period of time.

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 does income statement mean. 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. A statement of the revenues expenditures and profit for a business household or government entity over a given period of time an income statement also goes by the names profit and loss statement earnings report and operating statement.

The income statement is one of the main four financial statements that are issued by companies. A document that shows a company s profit or loss in a particular period of time.