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Q: What is the new name for income statement?
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What is the new name for profit and loss account?

It's now called "Statement of Income and Expenditure" according to the newly introduced IFRS.


What is another name for profit and loss statement?

income statement


Name for an expanded contribution margin income statement?

A contribution margin income statement is an income statement in which all variable expenses are deducted from sales to arrive at a contribution margin. It is the expanded version.


Do P and l refers to the income statement?

P and L refers to Profit and loss Account and yes its another name for Income statement


What is the name of the financial statement that compares your income to expenses?

'Income Statement' is the financial statement which compares the business incomes with its expenses using matching principle for specific period of time


What is another name for revenue on a financial statement?

Income Sales


How do you do Income statement?

Comparative income statement is same as normal income statement with little addition of that income statement as well from which comparison is required.


How do you prepare comparative income statement?

Comparative income statement is same as normal income statement with little addition of that income statement as well from which comparison is required.


What are the two categories of the income statement?

Following are two catagories of income statement: 1- Single Step Income statement 2- Multy-step income statement


Is income statement same as financial statement?

no. income statement is a only a statement in financial statements.


What is a projected income statement?

projected income statement is the estimated income statement to estimate the future business position.


Does fees earned go on an income statement?

income statement