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.
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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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.

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.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.

income statement

see PROFIT-AND-LOSS ACCOUNT.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

income statement

See financial statement.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
A gain of $5,270 is recognized in other comprehensive income, and a loss of $195 ($5,270-$5,075) is recognized in earnings in the same line of the income statement as the foreign currency exchange loss on the underlying payable.
On the first read, owners should review the income statement immediately for obvious mistakes or red flags.
The operating performance conclusions from this income statement are that sales of $15.2 million are below both budget and prior year.
Not all revenue, however, should be recorded on the "top line" (or top area of the income statement) as some forms of income are best placed at the bottom of the income statement--right after operating profit.
GAAP net income, we only want to include the variable portion of manufacturing overhead in this part of the Contribution Margin Income Statement. To get only the variable overhead allocated to each type of bike, we take the variable overhead rate, available in the Overhead Budget (Figure 1, April 2010), times the variable cost driver required for each type of bike--direct labor hours for our example.
Companies that seek broader ownership by having shares traded on an organized exchange, companies that have increased complexity in terms of international operations and larger size, and those that met capital needs by issuing debt or equity securities in the past three years or have their equity securities rated by Moody's are more likely to issue an income statement. Companies with an insider-focused, corporate-governance structure as measured by the portion of the BD that are officers are less likely to issue an income statement.
There are only two accounts to think about: the deferred tax account on the balance sheet and the tax expense account on the income statement. You must also be able to calculate the amounts to post.
This commonly accepted and appropriate accounting practice, however, artificially inflates the current income statement on a cash basis.
In order to electronically (or manually) identify the income statement amounts of these items, taxpayers would need to set up separate ledger accounts and instruct numerous people regarding their proper use.