income statement

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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.

Earnings Report

An annual report and other quarterly reports a publicly-traded company publishes giving information over a given period of time. The report contains information on the company's financial state, most notably statements on revenue, expenses, and earnings (which is the difference between the two). It is, in general, less detailed than a stockholder's report, but contains much of the same information. See also: Balance sheet.

Profit and Loss Statement

An annual report, and other quarterly reports, a publicly-traded company publishes giving information over a given period of time. The report contains information on the company's financial state, most notably statements on revenue, expenses, and earnings (which is the difference between the two). It is in general less detailed that a stockholder's report but contains much of the same information. A profit and loss statement goes by a number of other names, including income statement, earnings statement, earnings report, and operating statement. See also: Balance Sheet.

income statement

A business financial statement that lists revenues, expenses, and net income throughout a given period. Because of the various methods used to record transactions, the dollar values shown on an income statement often can be misleading. Also called earnings report, earnings statement, operating statement, profit and loss statement. See also consolidated income statement.

Income statement.

An income statement, also called a profit and loss statement, shows the revenues from business operations, expenses of operating the business, and the resulting net profit or loss of a company over a specific period of time.

In assessing the overall financial condition of a company, you'll want to look at the income statement and the balance sheet together, as the income statement captures the company's operating performance and the balance sheet shows its net worth.

income statement

see PROFIT-AND-LOSS ACCOUNT.

income statement

See financial statement.

References in periodicals archive ?
These changes reduce opening shareholders' equity as at January 1, 2004 by approximately GBP 30 million but have no material effect on the Profit and Loss Account for the year-ended December 31, 2004.
Unrealized gains and losses on these investments will be taken to reserves and only recognized through the Profit and Loss Account on sale or impairment of the investment.
Such reconciliations will also be presented in respect of the Profit and Loss Account, Balance Sheet and Cash Flow Statement for the year-ended December 31, 2004.
Attestation by the Commissaires aux Comptes and Auditors on the Interim Report and the combined Balance Sheet, Profit and Loss Account and Cash Flow Statement
We have performed a limited review of the financial information contained in the Balance Sheet, Profit and Loss Account and Cash Flow Statement of the Eurotunnel Group (prepared as described in Note 1 to the Accounts) and of the Interim Report covering the period from January 1 to June 30, 1998.