Income Statement PDF
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Collegetown University
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Summary
This document provides an overview of an income statement, including key takeaways, revenues, and expenses. It's a resource for understanding financial statements.
Full Transcript
·· hat. is an Income Statement? An inc:onrn e sta:lernent is one of the th ree import nt. 'nalillcia l statements used for 1 repo rting a company's ffinandal pe ormanc:e over a specific: aiccm.m ing perio wilth the other ~ vo ke r st tements be ing t e baIanoe sheet. and the state...
·· hat. is an Income Statement? An inc:onrn e sta:lernent is one of the th ree import nt. 'nalillcia l statements used for 1 repo rting a company's ffinandal pe ormanc:e over a specific: aiccm.m ing perio wilth the other ~ vo ke r st tements be ing t e baIanoe sheet. and the statement o 1 casrn1iih:w.rs. AJ&o knowlill as. he pro an Ioss srate 1111ent or the statement 0f re enue and t 1 e:xpense, tl1e inco1ne statement. prim rily focus&s 0111 the corn11p an. s revenues 1 1 and e;qpenses du rilill9 a partioUJ Iar perio. KEY TAKEAWAYS · incorn e stal ern en! is one of the lli ree (aIong ~ith a.lance sheet and 1 1 tatern eflll oft cas flo s) major ffinandal stat ements ·tha: reports a compan.rs ·inano:ial performance v e:r a specific accounting perimt 1 Net Inc e = (Total He.venue + Gains) - (T t al IE>0pens,es + Lo ses)i To al revenue is the su1n of. h 0peratin g and n n-
