Along with the balance sheet, cash flow statement and shareholders' equity statement, an income statement is one of the major financial reports often required to be prepared by a company for its ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...

An income statement presents the results of a company’s operations for a given period—a quarter, a year, etc. The income statement presents a summary of the revenues, gains, expenses, losses, and net ...

Caroline Banton has 6+ years of experience as a writer of business and finance articles. She also writes biographies for Story Terrace. Eric's career includes extensive work in both public and ...

Financial statement audits are a routine part of closing your financial books. Audits help to ensure the accuracy of the accounting data used to compile the statements as well as the overall ...

Income statements detail revenue, expenses, and net income from top to bottom. Reading starts with revenue, deducts expenses, and ends with net income. Subtotal figures help identify missing account ...