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income statement

an accounting of income and expenses that indicates a firm's net profit or loss over a certain period of time, usually one year. Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2015.
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Examples from the web for income statement
  • The accounting statements that illustrate and measure the six financial elements are the balance sheet and income statement.
  • The user inputs historical income statement and balance sheet information.
  • The effect upon the income statement for a change in estimate that affects several future periods should be disclosed.
  • The impact to our income statement will result in our reducing our headcount.

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