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.

Accounting is the basis of business decisions. While you may not be an accountant, or even like accounting, you are likely a decision-maker. You are asked to make numerous business decisions every ...

Income statements, balance sheets and cash flow statements. If you're running a business, you probably have some knowledge of basic financial statements and how to use them. But do you know why ...

Financial statements are written records of a business’s financial situation. They include standard reports like the balance sheet, income or profit and loss statements, and cash flow statement. They ...

Dr. JeFreda R. Brown is a financial consultant, Certified Financial Education Instructor, and researcher who has assisted thousands of clients over a more than two-decade career. She is the CEO of ...

While all financial statements prepared by accountants are connected in some way to profits, the income – or profitability – statement is the one that provides the most details of revenues and ...

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 ...

Learn how to prepare an up-to-date profit and loss statement, balance sheet and statement of cash flows. Many, or all, of the products featured on this page are from our advertising partners who ...

Over the years, companies have relied on alternative performance measures (APMs) such as “adjusted earnings” or “underlying profit” to provide investors additional financial information beyond IFRS or ...

A partnership entails two or more individuals working together toward a particular objective. In some jurisdictions, there may be an upper limit to the number of partners. The main difference between ...

When you apply for business funding, lenders and investors want to ensure they won’t lose money on your venture. That’s why bringing detailed financial statements to your pitch meeting is crucial.