Financial Statements
Income Statement
Definition
What is Income Statement?
A statement showing revenue, expenses, and profit over a period.
Example in practice
How This Looks in Practice
The income statement covers the twelve months ended 31 December.
Keep learning
Related Terms
Financial Statements
Revenue
Income generated from selling goods or services before expenses are deducted.
Financial StatementsSales Growth
The percentage increase or decrease in revenue over a period.
Financial StatementsCost of Goods Sold
Direct costs attributable to goods or services sold during a period.
Financial RatiosGross Margin
Gross profit expressed as a percentage of revenue.