An income statement lists a company's revenues, expenses and net income, or profit. Net income equals total revenue minus total expenses. A condensed income statement reports the same overall ...

The income statement, or profit and loss statement, reflects a company's revenues and expenses for a period. When a company uses the accrual basis of accounting, it records its revenues when they are ...

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

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 ...

J.B. Maverick is an active trader, commodity futures broker, and stock market analyst 17+ years of experience, in addition to 10+ years of experience as a finance writer and book editor. David ...

The Financial Accounting Standards Board proposed an accounting standards update Monday to give investors more information about a company's expenses. The proposal would require public companies to ...