Income Statement Medical Definition

Income statement définition signification ce qu est income statement.

Income statement medical definition. The income statement is one of a company s core financial statements that shows their profit and loss over a period of time. Income statement or otherwise called as statement of profit and loss is the summary prepared by the company s management reporting the revenues expenses gains and losses for the particular financial year simply put it portrays the final result of the company s operations over a period. Bplans glossary also called profit and loss statement an income statement is a financial statement that shows sales cost of sales gross margin operating expenses and profits or losses. An income statement is one of the three major financial statements that reports a company s financial performance over a specific accounting period.

A document that shows a company s profit or loss in a particular period of time. What is an income statement. Income statements are 2 types single step income statement and multiple step income statement for finding net profit or loss an accounting period. Information and translations of income statement in the most comprehensive dictionary definitions resource on the web.

Read business terms glossary by. The profit or loss is determined by taking all revenues and subtracting all expenses from both operating and non operating activities this statement is one of three statements used in both corporate finance including financial modeling and accounting. Meaning of income statement. Income statement definition an accounting of income and expenses that indicates a firm s net profit or loss over a certain period of time usually one year.

The income statement is one of the main four financial statements that are issued by companies. The income statement format above is a basic one what is known as a single step income statement meaning just one category of income and one category of expenses and prepared specifically for a service business. What does income statement mean. Income statement shows net profit or net loss arising out of activities of a particular accounting period of any business organization.