You don’t need to be a CPA to understand your company’s financial health. You just need to know where to look. That starts with the income statement—also known as the profit and loss (P&L) ...

An income statement is your business’s bottom line: your total revenue from sales minus all of your costs. Financial data is always at the back of the business plan, but that doesn’t mean it’s any ...

Start by looking at cash flow from operations, the section that tells you how much money the company’s main business is actually generating. If that number is positive and growing over time, it’s ...

Income statements detail revenue, expenses, and net income from top to bottom. Reading starts with revenue, deducts expenses, and ends with net income. Subtotal figures help identify missing account ...

Revenue and income are also prominent fixtures in tax forms filed with the IRS, as well as in company strategies for minimizing tax liability incurred from year to year. Accurate income reporting ...

The provision for income taxes on an income statement is the amount of income taxes a company estimates it will pay in a given year. The company's final tax bill may be slightly more or less than the ...

Vipul Bansal is a seasoned finance professional with over ten years of experience in investment banking and capital markets. Deutsche Bank. Financial statements play a crucial role in evaluating a ...

Discover what sundry income is, its impact on business finances, and see examples such as royalties and late fees. Learn how ...