An income statement is your business’s bottom line: your total revenue from sales minus all of your costs. Financial data is always at the back of the business plan, but that doesn’t mean it’s any ...

Learn what every business owner needs to know about financial accounting, accounting software and financial statements.

Income statements detail revenue, expenses, and net income from top to bottom. Reading starts with revenue, deducts expenses, and ends with net income. Subtotal figures help identify missing account ...

The provision for income taxes on an income statement is the amount of income taxes a company estimates it will pay in a given year. The company's final tax bill may be slightly more or less than the ...

Other comprehensive income (OCI) is a term used in business accounting to define transactions that aren't yet realized. These figures include revenues, expenses, gains, and losses—all of which are ...

Learn about consolidated financial statements, the criteria for aggregation, reporting guidelines, and practical examples for parent companies with subsidiaries.

Discover what condensed financials are, how they provide an overview of a company's financial status, and their essential roles in internal auditing.