An income statement , a summary of a company’s profit or loss during any one given period of time. Financial performance is assessed by giving a summary of how the business incurs its revenues and expenses through both operating and non-operating activities. It also shows the net profit or loss incurred over a specific accounting period, typically over a fiscal quarter or year. Also known as the “profit and loss statement” or “statement of revenue and expense.” You may also like Excel Profit Loss Report Template, Receipt And Payment Report Template.
The portion of the income statement that deals with operating items is interesting to investors and analysts alike because this section discloses information about revenues and expenses that are a direct result of the regular business operations.
Income statement report also called a statement of financial performance, operation statement, statement of operation and earning statement.
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