Over view of income statement

Income statement

Assets

Overview
Income statement for companies indicate how Net Revenue (money received from the sale of products and services before expenses are taken out, also known as the "top line") is transformed into Net Income (the result after all revenues and expenses have been accounted for, also known as the "bottom line").
Also called Profit and Loss Account (P&L ) or in reference to charitable organizations Income and Expenditure Account .
Source
This entry includes content from the following Wikipedia article:
Income statement