Income statement
-Presentation of an organization's revenues and expenses for a given period of time ( e.g. Monthly, quarterly, or yearly)
-Revenues, in a simple sense, are inflows of cash as a result of selling actvities or the disposal of company assets.
-Expenses, in a simplevsense, are outflows of cash or the creation of liabilities to support company operations.
-Revenues - Expenses = net income
Income statement-Presentation of an organization's revenues and expenses for a given period of time ( e.g. Monthly, quarterly, or yearly)-Revenues, in a simple sense, are inflows of cash as a result of selling actvities or the disposal of company assets.-Expenses, in a simplevsense, are outflows of cash or the creation of liabilities to support company operations. -Revenues - Expenses = net income
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