A summary of the income and expenses for the company over the operating period – a financial History Book for the fiscal period. The Income Statement in the Annual Report shows the total income and expenses (and the profit or loss) for the business over the entire business year.
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Income Statement Equation: Sales Revenue – Expenses = Profit |
→ The left side of the Visual Finance image is an Income Statement.
Also known as the ‘P&L’ or a Profit and Loss Statement.
term list.