STANDARD DOCUMENTS: Income Statement checklist

The income statement is a financial report that all companies should prepare.


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The income statement shows how much money the company made or lost
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The income statement is also called a "profit and loss statement"
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The income statement shows revenues and expenses
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The statement often shows several periods
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You can compare income statements of similar companies
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Accounting software can generate income statements easily
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The Income statement is considered a standard financial report

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