Income Statement Report The standard Income Statement includes the following rows: Ordinary Income/Expense (header row) Income (financial section) Cost of Sales (financial section) Gross Profit (formula row) Expense (financial section) Net Ordinary Income (summary row) Other Income and Expenses (header row) Other Income (financial section) Other Expenses (financial section) Net Other Income (summary row) Net… Continue reading PART 4.1 – The outline layout of Financial Statement Reports
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PART 4 – The Core 3 Financial Statements Compared
Balance Sheet Income Statement Statement of Cash Flow Purpose Net Worth Profitability Liquidity & Solvency Reporting Period As of Point in Time For the Period Ended For the Period Ended Elements – Assets– Liabilities– Equity – Revenue– Gains– Expenses– Losses– Net Income – Beginning Cash Balance– Sources of Cash– Uses of Cash– Ending Cash… Continue reading PART 4 – The Core 3 Financial Statements Compared