income statement
Học thuậtThân thiện
Definition
Noun: A formal financial document that summarizes a company's revenues, expenses, and profits or losses over a specific, defined period of time, such as a quarter or a year. It is a core component of a company's financial reporting.
Usage
The term "income statement" is used to refer to the specific report itself. It is a standard accounting term. * The income statement shows whether a company made a profit during the last quarter. * Investors carefully analyze the income statement to assess a company's financial health. * Before making an investment, you should review the company's most recent income statement.
Advanced Usage
- "to prepare/present an income statement": The act of creating or officially sharing this financial report.
- The accounting department will present the income statement at the next board meeting.
- "on the income statement": Used to indicate where a specific financial figure is reported.
- Research and development costs are listed as expenses on the income statement.
Variants and Related Words
- Profit and Loss Statement (P&L) (n): A common synonym for "income statement."
- Statement of Operations (n): Another formal name for the same financial report.
- Earnings Statement (n): A less formal term often used interchangeably with income statement.
Synonyms
- Profit and loss statement
- Statement of operations
- Earnings report
Related Phrases
- Bottom line: A common idiom derived from the income statement, referring to the net profit or loss figure, which is literally found at the bottom of the statement.
- What matters most to the shareholders is the bottom line.
Noun
- a financial statement that gives operating results for a specific period