What is the definition of Income Statement in finance?
- Posted on November 19, 2019
- Financial Terms
- By admin admin
An Income Statement is one of the three financial statements that are used to value a company and to show inflows and outflows of value. The Income Statement lists all operational costs of the business as well as any income. It is always for a period of time (i.e. 1 year).
Some examples of items included on the income statement are:
- Revenue
- Cost of Goods Sold
- Research & Development
- Depreciation & Amortization
- Earnings Per Share
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