Income-statement meaning

A financial statement that summarizes the various transactions of a business during a specified period, showing the net profit or loss; profit and loss statement.
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One of the major financial statements produced by a com-pany, it shows the amount of money that is earned, the expenses incurred, and the resulting net income. Corporations produce income statements quarterly as well as annually. Publicly-traded companies meeting minimum size requirements must file their income statement with the Securities and Exchange Commission.
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An accounting document setting forth the income and expense of a business organization over some period of time.
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(accounting) A calculation which shows the profit or loss of an accounting unit (company, municipality, foundation etc.) during a specific period of time, providing a summary of how the profit or loss is calculated from gross revenue and expenses.
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