Income Statement Definition | Finance Strategists | Your Online Finance Dictionary

A company’s income statement records a company’s performance over a period of time, usually three months.
The income statement, sometimes referred to as a statement of income or profit and loss statement, is one of the three documents used to measure the profitability of a company.
The other two are the balance sheet and the cash flow statement.
It should not be confused with the balance sheet, which records the state of a company’s funds at a single point in time.
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0:00 Income Statement Definition
0:16 How Profit or Loss is Determined
0:24 Income Statement in Finance and Accounting
0:52 Components of an Income Statement
3:00 Income Statement Question & Application
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