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Tags: accounting
Categories: Economics & Finance
A financial statement that measures a company’s financial performance over a specific accounting period. Financial performance is assessed by giving a summary of how the business incurs its revenues and expenses through both operating and non-operating activities. It also shows the net profit or loss incurred over a specific accounting period, typically over a fiscal quarter or year.
Also known as the «profit and loss statement» or «statement of revenue and expense.»
(Read more: http://www.investopedia.com/terms/i/incomestatement.asp#ixzz2JZkTfZAP)
Synonyms:
statement of revenue and expense, profit and lost statement
