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What is financial statement that summarizes the revenues and expenses for a specific period of time?
Wiki User
∙ 13y ago
income statement
Wiki User
∙ 11y ago
Wiki User
∙ 13y agoskuks as
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Is a financial statement that summarizes the revenues and expenses for a specific period of time?
skuks as
What is financial elements?
The elements of financial statement refer to the items enclosed in a financial statement. Examples of these elements are assets, liabilities, net or equity assets, expenses, revenues, losses and gains.
What is on an income statement?
revenues and expenses
What is the business definition for profit loss statement?
The business definition of the profit loss statement is a financial statement that explains your costs, expenses and revenues in a specific time period.
What are the categories in an income statement?
+ Incomes or Revenues - Expenses
Where can I find a profit loss statement?
A profit loss statement is a statement that summarizes costs, expenses, and revenues. Microsoft office has a downloadable profit loss statement template. The link to this template is http://office.microsoft.com/en-us/templates/profit-and-loss-statement-TC001115484.aspx
How are revenues and expenses reported on the income statement under the accrual basis of accounting?
Revenues are reported on the income statement in the period in which they are earned.
What is projected income statement?
Projected Income Statement normally includes your estimated future Business Revenues, Cost of Goods Sold, Gross Profit, Controllable Expenses, Non-Controllable Expenses and Net Profit. This statement is utilized to project your financial future in your business.
What is a financial statement that summariezes the revenues and expenses for a specific period of time called?
An income statement is the summary of a business's income and expenses during the past year. Income statements are used to determine how well a business is performing financially.
What is the explanation for the elements of financial statement?
asset, liability equity, investment by owners, distructions to onwners, comprehensive income, revenues, expenses, gains and lossesType your answer here...
What is it called when your expenses are greater than your revenues on an income statement?
loss
What does the income statement show amounts for?
revenues, gains, expenses and losses.
