INCOMESTATEMENT

Income statement

An income statement or profit and loss account is one of the financial statements of a company and shows the company's revenues and expenses during a particular period. It indicates how the revenues are transformed into the net income . It displays the revenues recognized for a specific

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income statement

Noun

  1. A calculation which shows the profit or loss of an accounting unit (company, municipality, foundation etc.) during a specific period of time, providing a summary of how the profit or loss is calculated from gross revenue and expenses.


The above text is a snippet from Wiktionary: income statement
and as such is available under the Creative Commons Attribution/Share-Alike License.

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