Читать книгу Financial Accounting For Dummies - Maire Loughran - Страница 45

Next up in your exciting walkthrough of the three financial statements is (drum roll, please) … the income statement, which shows income, expenses, gains, and losses. It’s also known as a statement of profit or loss (or P&L) — mostly among non-accountants, particularly small business owners. As the true financial accountant that you are (or soon will be!), you use the term income statement rather than statement of profit or loss.

Here, I provide only a brief introduction to the income statement. For the complete scoop on the income statement, the accounts reflecting on it, and how to prepare one, see Chapter 10.

Your generally accepted accounting principles (GAAP) may also refer to this report as statements of income. This is because the income statement shows not only income and expenses from continuing operations but also income from myriad other sources, such as the gain or loss that results when a company sells an asset it no longer needs.