Meaning of the word "income statement" in English
What does "income statement" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.
income statement
US /ˈɪnkʌm ˌsteɪtmənt/
UK /ˈɪnkʌm ˌsteɪtmənt/
Noun
1.
a financial statement that reports a company's financial performance over a specific accounting period. It summarizes how the business incurs its revenues and expenses through both operating and non-operating activities.
Example:
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The accountant prepared the income statement for the last quarter.
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Investors often review the income statement to assess a company's profitability.
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