Income Statement - Definition, Explanati…
https://corporatefinanceinstitute.com/resources/accounting/income-statement/
An income statement is a financial document that reports a company's financial performance over a specific period. It details the company's revenues, expenses, and profits or losses during that time. The income statement begins with sales or revenue and then deducts the costs of doing business, including the cost of goods sold, operating expenses, tax expenses, and interest expenses, to calculate the net income. Revenue/Sales: Total income from goods sold or services provided. Cost of Goods Sold (COGS): Direct costs attributable to goods produced and sold or services delivered. Gross Profit: Revenue minus COGS. Operating Expenses: Costs related to the company's main activities, excluding COGS. Operating Income: Gross profit minus operating expenses. Interest and Taxes: Costs of interest on debt and taxes owed to the government.
Revenue/Sales: Total income from goods sold or services provided.
Cost of Goods Sold (COGS): Direct costs attributable to goods produced and sold or services delivered.
Gross Profit: Revenue minus COGS.
Operating Expenses: Costs related to the company's main activities, excluding COGS.
Operating Income: Gross profit minus operating expenses.
Interest and Taxes: Costs of interest on debt and taxes owed to the government.
DA: 18 PA: 46 MOZ Rank: 82