Year End Income And Expense Statement

The income statement is a report showing the profit or loss for a business during a period as well as the incomes and expenses that resulted in this overall profit or loss.

Year end income and expense statement. Use this accessible template to create an income statement. A year end income statement presents a summary of a company s revenue and expenses for the 12 months prior to the end of a fiscal year. For example an income statement may cover any one of the following time periods. Year ended may 31 five months ended may 31 quarter ended may 31 month ended may 31 or five weeks ended may 31.

The income statement s primary purpose is to show the financial performance of a business. Since income statements can be prepared for any period of time you must inform the reader of the precise period of time being covered. Income statement 1 year. The income statement also called the profit and loss statement is a report that shows the income expenses and resulting profits or losses of a company during a specific time period.

Along with the balance sheet and the cash flow statement the income statement is one of the three basic financial statements. An income statement also known as a profit and loss statement shows revenue and expense over a period of one year.