What is an Income Statement? - Deepstash
What is an Income Statement?

What is an Income Statement?

Income statement or P/L statement is a financial statement that summarizes the revenue, expenses and the profit/loss generated by a business over a period of time. For example, you can write an income statement for a period from 01.04.2022 to 31.03.2023 or from 01.01.2022 to 31.03.2022. Generally, an income statement is prepared for an accounting period

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Cracking the code of the Income Statement

It consists of three main categories:

  • Sales or revenue during a given time period. It includes sales (revenue) and Earnings-per-share (EPS)
  • Costs and expenses: “Above the line” are the cost of goods sold (COGS), cost of services (COS). “Below t...

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