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income statement |
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Income Statement A financial report that - by summarizing revenues and expenses, and showing the net profit or loss in a specified accounting period - depicts a business entity's financial performance due to operations as well as other activities rendering gains or losses. Also known as the "profit and loss statement" or "statement of revenue and expense". Notes: The income statement is the most analyzed portion of the financial statements. It displays how well the company can assure success for both itself and its shareholders through the earnings from operations.See also: Annual Report, Balance Sheet, Bottom Line, Expense, Profit and Loss Statement - P&L, Profit, Revenue, SG&A Income statement (statement of operations) A statement showing the revenues, expenses, and income (the difference between revenues and expenses) of a corporation over some period of time.
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