An income statement, also known as a Profit and Loss (P&L) statement, is one of the key financial statements used by management, analysts, and investors to assess a company's financial performance and profitability over a period of time.It provides a detailed breakdown of a company's revenues, costs, expenses, and profits. The income statement starts with sales or revenue at the top and then subtracts various types of costs and expenses to arrive at net income at the bottom, which is why it's often referred to as the company's "top line to bottom line".
Learn Profit and Loss (P&L) with interactive examples and practice exercises in our Income Statement module.
This interactive learning module helps you understand Profit and Loss (P&L) through hands-on practice and real-world examples.