Everything You Need to Know About the Income Statement

Author: External Author | | Categories: Accounting , Bookkeeping , Business Accounting , Business Bookkeeping , Corporate Tax Returns , Payroll Services , Small Business Accounting , Tax Preparation

An income statement, which shows your revenue after expenses and losses, tells a story about the performance of your business over a certain time period, such as monthly, quarterly, or annually. Once referred to as a profit-and-loss statement, an income statement typically includes revenue or sales, cost of goods sold, expenses, gross profits, taxes, net earnings, and earnings before taxes. If you want a detailed analysis of your business's performance, the income statement is the report you need.

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Original Article Source Credits: business.com, https://www.business.com

Article Written By: Donna Fuscaldo

Original Article Posted on: Feb 03, 2021

Link to Original Article: https://www.business.com/articles/business-income-statement