Income Statement PDF
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Collegetown University
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Summary
This document provides an overview of income statements, including key takeaways and definitions. It explains the role of the income statement in financial reporting and its relation to other 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-
