It's one of three primary financial statements. Focuses on income and expenses over a specific period. Aims to report a company's net income or earnings. Essential for assessing financial performance.

An income statement, also called an earnings report or a profit-and-loss statement, shows a company's fiscal operations during a specified time period. These income statements, typically produced ...

Financial statements are essentially the report cards for businesses. They tell the story, in numbers, about the financial health of the business. The information found on the financial statements of ...

Companies that use accrual basis accounting can assemble their statement of cash flows in one of two ways, using either the direct method or the indirect method. The more commonly used indirect method ...