income statement

income statement
a financial document that shows how much money ( sales) came in and how much money (costs) was paid out. Subtracting the costs from the sales gives you your profit and all three are shown on the income statement. Glossary of Business Terms

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income statement income statement ➔ statement

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income statement UK US noun [C]
► FINANCE, ACCOUNTING a document that shows a company's profit or loss in a particular period of time: »

According to its income statement, the company's revenue decreased by 21.5% during the third quarter.

→ See also EARNINGS REPORT(Cf. ↑earnings report), PROFIT-AND-LOSS ACCOUNT(Cf. ↑profit-and-loss account)

Financial and business terms. 2012.

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Look at other dictionaries:

  • income statement — n. A statement of financial gains and losses over a twelve month period; also called earnings report, operating statement, profit and loss statement. The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney… …   Law dictionary

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  • income Statement — An accounting summary of the results of operations of an organization or individual for a defined time period. An income statement establishes *net income from *revenues and *expenses, in line with the conventions of *double entry bookkeeping and …   Auditor's dictionary

  • income statement — an accounting of income and expenses that indicates a firm s net profit or loss over a certain period of time, usually one year. * * * In accounting, the activity oriented financial statement issued by businesses. Covering a specified time, such… …   Universalium

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  • income statement — noun a financial statement that gives operating results for a specific period • Syn: ↑earnings report, ↑operating statement, ↑profit and loss statement • Hypernyms: ↑statement, ↑financial statement * * * noun see …   Useful english dictionary

  • Income Statement — engl. für ⇡ Gewinn und Verlustrechnung (GuV). Vgl. auch ⇡ Statement of Income …   Lexikon der Economics

  • income statement — noun see income account …   New Collegiate Dictionary

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