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 ...

Learn financial statement analysis techniques, including horizontal, vertical, and ratio analysis, to assess company ...

The income statement summarizes sales, expenses and profits for an accounting period. Expenses include cost of goods sold, operating and non-operating expenses, and unusual expenses.

Accounting is the practice of tracking your business's financial data and interpreting it into valuable insights. This allows you to generate crucial financial statements, such as a balance sheet ...

In response to demand from investors, public companies will be required to disclose more information about certain expenses in the notes to financial statements.