Cool Other Term For Income Statement

It is also referred to as a profit and loss statement or earnings statement.

Other term for income statement. You still can call this term in your daily works. Other income is income derived from activities unrelated to the main focus of a business. The Income Statement Has Several Other Names The Meaning of Earnings Profits and PL T he term income is virtually synonymous with a few other terms such as earnings and profits.

The income statement may be presented by itself on a single page or it may be combined with other comprehensive income information. Other income that records in the income statement normally refers to the types of incomes that are not related to or generate from the main operation of an entity. The income statement is sometimes called the profit and loss statement PL statement earnings statement statement of operations or some other variation of these terms.

The format of the income statement components allows for dissecting the revenues expenses operating income and profits of an entity. Just like in any industry finance and accounting use lots of acronyms. For example a manufacturer of washing machines earns rental income from sub-leasing unused office space to a third party.

The income statement At this point the total revenue shown in column D of Bobs Contribution Margin Income Statement Figure 1 in this article should match total revenue in the Sales Budget Figure 4 February 2010. The statement of income is also known as a profit and loss PL statement statement of earnings income statement or statement of operations. Here are some of the most common acronyms that are found in the income statement.

The income statement is commonly referred to as a profit and loss statement or P L A companys income statement is a record of revenue and expense over a period of time. It is one of the categories of expenses found on the income statement. COGS stands for Cost of Goods Sold.

The purpose of the income statement is to provide the financial earnings performance of the entity over a specific period of time. Default income statement only reports one tax line b. Learning Objectives Construct a complete income statement.