Summary Accounting

, Income Statement
what is an income statement ?


I Revenue -

Expenses = Profit




Purposeofwicomesratemeut.tt
here are three key purposes of income statement .




I Display how effective a business has been at generating wealth
, .




2 Demonstrates how the business has performed and whether it made
an acceptable level of profit for its shareholders .




I, It calculates how much tax a business must pay .




*he relationship between the income sheet and balance sheet
Ratana Ratana Balance
Balance sheet
Palayam Balaguer
y
.




Indhu thumb
statement statement

flows
flows