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.

You don’t need to be a CPA to understand your company’s financial health. You just need to know where to look. That starts with the income statement—also known as the profit and loss (P&L) ...

What Is An Income Statement? An income statement lists a company’s income, expenses, and resulting profits over a specific time frame, usually a quarter or fiscal year. Companies create income ...

"Non-recurring" is an important concept to understand in your company's financial statements, because a non-recurring item can skew your bottom-line results. There are many different charges (or ...

A restaurant business is unpredictable, and costs that escalate without warning can make all the difference between making or losing money. Your restaurant may be full regularly, but if your overhead ...

Joseph, Director at Wise Business Plans, has overseen 15K written business plans, raising over $1Bn in funding in more than 400 industries. As you create your financial projections for your business ...

A balance sheet provides a snapshot of a company's assets, liabilities and equity at a specific point in time, while an income statement summarizes its revenues and expenses over a period to show ...