- Income Statement
- A financial statement that measures a company's financial performance over a specific accounting period. 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".
The income statement is the one of the three major financial statements. The other two are the balance sheet and the statement of cash flows. The income statement is divided into two parts: the operating and non-operating sections.
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. For example, if a business creates sports equipment, then the operating items section would talk about the revenues and expenses involved with the production of sports equipment.
The non-operating items section discloses revenue and expense information about activities that are not tied directly to a company's regular operations. For example, if the sport equipment company sold a factory and some old plant equipment, then this information would be in the non-operating items section.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
income statement — n. A statement of financial gains and losses over a twelve month period; also called earnings report, operating statement, profit and loss statement. The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney… … Law dictionary
income statement — or income account n. a financial statement that summarizes the various transactions of a business during a specified period, showing the net profit or loss; profit and loss statement … English World dictionary
Income statement — Accountancy Key concepts Accountant · Accounting period · Bookkeeping · Cash and accrual basis · Cash flow management · Chart of accounts … Wikipedia
income statement — a financial document that shows how much money ( sales) came in and how much money (costs) was paid out. Subtracting the costs from the sales gives you your profit and all three are shown on the income statement. Glossary of Business Terms * * *… … Financial and business terms
income Statement — An accounting summary of the results of operations of an organization or individual for a defined time period. An income statement establishes *net income from *revenues and *expenses, in line with the conventions of *double entry bookkeeping and … Auditor's dictionary
income statement — an accounting of income and expenses that indicates a firm s net profit or loss over a certain period of time, usually one year. * * * In accounting, the activity oriented financial statement issued by businesses. Covering a specified time, such… … Universalium
income statement — pajamų ataskaita statusas T sritis Gynyba apibrėžtis Ataskaita, kurioje nurodomas bendrųjų įplaukų ir bendrųjų išlaidų sumų skirtumas. atitikmenys: angl. income statement šaltinis NATO mokymų ir pratybų finansavimo terminų žodynas AAP 43(1), 2009 … Lithuanian dictionary (lietuvių žodynas)
income statement — noun a financial statement that gives operating results for a specific period • Syn: ↑earnings report, ↑operating statement, ↑profit and loss statement • Hypernyms: ↑statement, ↑financial statement * * * noun see … Useful english dictionary
Income Statement — engl. für ⇡ Gewinn und Verlustrechnung (GuV). Vgl. auch ⇡ Statement of Income … Lexikon der Economics
income statement — noun see income account … New Collegiate Dictionary