Income Statement Vs Profit And Loss: Are They The Same? -

income statement An income statement records your company's revenue and expenses over a specific time period It shows your company's profit and loss: the

It is because it details the company's profit sources based on its performance in selling products, offering services or in its investments' income To explain thesis statement example The three financial statements are the income statement, the balance sheet, and the statement of cash flows See them explained in detail