Income statement
Also called: profit and loss statement, statement of profit and loss, P&L statement
The financial statement showing a company's revenue, expenses and profit over a period such as a quarter or a year.
The income statement starts with revenue, subtracts costs step by step, and ends with net profit and earnings per share. In Indian annual reports it is usually titled the Statement of Profit and Loss.
It is prepared on an accrual basis, so its profit is not the same as the cash the company collected in the period.
Learn more in these lessons
- The income statementHow do you read an income statement?
- Revenue, expenses and profitWhat is the difference between revenue and profit?
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