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
1
13 reads
CURATED FROM
IDEAS CURATED BY
Finance
“
Similar ideas to What is an Income Statement?
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...
How do I quit my job and be a freelancer?
First, ensure that your freelance writing business has the right systems and is producing enough revenue to support the lifestyle you desire.
Consider choosing a niche, building an impressive writing portfolio and securing client retainers for stable income. Also, be sure ...
Budgeting your money is the cornerstone of a sound financial plan, and seeing all the numbers in black and white can offer valuable perspective on where your mone...
WES MOSS
Read & Learn
20x Faster
without
deepstash
with
deepstash
with
deepstash
Personalized microlearning
—
100+ Learning Journeys
—
Access to 200,000+ ideas
—
Access to the mobile app
—
Unlimited idea saving
—
—
Unlimited history
—
—
Unlimited listening to ideas
—
—
Downloading & offline access
—
—
Supercharge your mind with one idea per day
Enter your email and spend 1 minute every day to learn something new.
I agree to receive email updates