If you own your own business or manage one for someone else, you can learn how your business performed in a given period by reviewing your company's financial statements. If you use the accrual method ...

Companies use the percentage of sales method to turn a revenue forecast into a full forecast of business activity, helping them make decisions on such things as purchasing, hiring and capital ...

Discover how cash purchases impact a company's income statement and where to find detailed records in financial reports.

The general tax rules for income recognition under an accrual method of accounting were changed in the law known as the Tax Cuts and Jobs Act (TCJA), P.L. 115-97, which added new Secs. 451(b) and (c).

A company's income statement shows how much money it brought in as revenue or sales, how much it spent on expenses, and how much profit or loss -- also called net income -- was generated for a given ...

In April 2004, FASB and the International Accounting Standards Board (IASB) created a joint project on financial statement presentation. The project is part of the memorandum of understanding between ...

Create and customize an income statement to fit your business's needs, then save, print or send. Many, or all, of the products featured on this page are from our advertising partners who compensate us ...

Equity accounting is a method of reporting a company's profits from the operations of an affiliated company that it has an interest in but does not own outright.

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 ...