Definitions for income statement
in·come state·ment

Princeton's WordNetRate this definition:0.0 / 0 votes

1. income statement, earnings report, operating statement, profit-and-loss statementnoun

   a financial statement that gives operating results for a specific period

WiktionaryRate this definition:0.0 / 0 votes

1. income statementnoun

   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.

WikipediaRate this definition:0.0 / 0 votes

1. Income statement

   An income statement or profit and loss account (also referred to as a profit and loss statement (P&L), statement of profit or loss, revenue statement, statement of financial performance, earnings statement, statement of earnings, operating statement, or statement of operations) 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 (also known as the “top line”) are transformed into the net income or net profit (the result after all revenues and expenses have been accounted for). The purpose of the income statement is to show managers and investors whether the company made money (profit) or lost money (loss) during the period being reported. An income statement represents a period of time (as does the cash flow statement). This contrasts with the balance sheet, which represents a single moment in time. Charitable organizations that are required to publish financial statements do not produce an income statement. Instead, they produce a similar statement that reflects funding sources compared against program expenses, administrative costs, and other operating commitments. This statement is commonly referred to as the statement of activities. Revenues and expenses are further categorized in the statement of activities by the donor restrictions on the funds received and expended. The income statement can be prepared in one of two methods. The Single Step income statement totals revenues and subtracts expenses to find the bottom line. The Multi-Step income statement takes several steps to find the bottom line: starting with the gross profit, then calculating operating expenses. Then when deducted from the gross profit, yields income from operations. Adding to income from operations is the difference of other revenues and other expenses. When combined with income from operations, this yields income before taxes. The final step is to deduct taxes, which finally produces the net income for the period measured.

ChatGPTRate this definition:0.0 / 0 votes

1. income statement

   An income statement, also known as a profit and loss statement, is a financial document that shows how a company has performed over a specific period of time. It provides a summary of a company's revenues, costs, expenses, and profits or losses, offering a clear picture of a company's profitability. It is one of the three main financial statements used by businesses, along with the balance sheet and cash flow statement.

WikidataRate this definition:0.0 / 0 votes

1. 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 period, and the cost and expenses charged against these revenues, including write-offs and taxes. The purpose of the income statement is to show managers and investors whether the company made or lost money during the period being reported. The important thing to remember about an income statement is that it represents a period of time. This contrasts with the balance sheet, which represents a single moment in time.

Matched Categories

1. • Financial Statement

How to pronounce income statement?

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How to say income statement in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of income statement in Chaldean Numerology is: 6

2. Pythagorean Numerology

   The numerical value of income statement in Pythagorean Numerology is: 5

Examples of income statement in a Sentence

1. Sami Sarkamies:

   Samsung has been paying Nokia probably 100 million per year, and the rate could now come up to around 300 million euros (per year). The settled rate will also be paid retrospectively for the last two years, but they have already booked perhaps 100 million a year from Samsung to their income statement, so the EBIT impact for this year could be around 700 million euros.

2. Eric Freedman:

   These are typically single points in time, snapshots. It's almost like looking at a balance sheet versus an income statement over a quarter, new information can emerge.

References

1. ^ Princeton's WordNet
   http://wordnetweb.princeton.edu/perl/webwn?s=income statement
2. ^ Wiktionary
   https://en.wiktionary.org/wiki/Income_Statement
3. ^ Wikipedia
   https://en.wikipedia.org/wiki/Income_Statement
4. ^ ChatGPT
   https://chat.openai.com
5. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=income statement