What is an income statement?

What is an income statement? Here are some definitions.

Noun (accounting) A calculation which shows the profit or loss of an accounting unit (company, municipality, foundation etc.) during a specific period of time, providing a summary of how the profit or loss is calculated from gross revenue and expenses. Find more words! 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This provision may be written back through the income statement in the event of an increase in value. Anecdotal evidence suggests a growing number of Old Economy companies are moving away from stock options to restricted stock, which must be expensed on the income statement. Go to the income statement again to find the gross profit margin, which is revenue less cost of revenue. Chi-square tests were also used to determine if the frequency of issuing an income statement differed between listed and unlisted companies. In the event of disposal, the amounts recognised in the revaluation reserve are recognised in the income statement. See Also What is another word for income statement? Sentences with the word income statement What is the plural of income statement? Nearby Definitions incomes incomers incomer incomeless incomed income brackets income statements income support income tax income taxes income tax return income tax returns