income statement

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Related to Statement of Financial Performance: Statement of cash flows

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 ?
The disclosure shall identify the line item(s) in the statement of financial performance in which the gains and losses for these categories of derivative instruments are included.
See Example 2 in the disclosures section of Appendix B of this Statement for an illustration of the disclosures about the gains and losses on derivative instruments reported in the statement of financial performance.
1) The gains and losses on its trading activities (including both derivative and nonderivative instruments) recognized in the statement of financial performance, separately by major types of items (such as fixed income/interest rates, foreign exchange, equity commodity, and credit)
2) The line items in the statement of financial performance in which trading activities gains and losses are included
An entity's disclosures for every annual and interim reporting period for which a statement of financial position and a statement of financial performance <begin strikethrough>complete set of financial statements<end strikethrough> is presented also shall include the following:
Display classifications used in the separate component of equity should correlate with display classifications used in the statement of financial performances.
that it is likely that most enterprises will meet the requirements of this Statement by providing the required information in a statement of changes in equity, and that displaying items of other comprehensive income solely in that statement as opposed to reporting them in a statement of financial performance will do little to enhance their visibility and will diminish their perceived importance (FASB 1997 para.

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