There are three types of financial statements for businesses: income statement, balance sheet and cash flow statement. Each of these financial statements shows a different aspect of the business ...

The income statement garners a lot of attention because it details whether your business has made a profit or loss. Therefore, it is paramount that you accurately record sales and expense items ...

An income statement presents the results of a company’s operations for a given period—a quarter, a year, etc. The income statement presents a summary of the revenues, gains, expenses, losses ...

The income statement, also known as the profit and loss statement, is an important tool as it calculates the profitability or loss of a business. Newsletters Games Share a News Tip.

CAPEX-Related Expenses . There are often purchases related to a CAPEX, that do in fact, immediately affect an income statement, depending on the type of asset acquired.