the income statement illustrates just how much income your company makes or loses during the year by subtracting cost of goods and expenses from total revenue to arrive at a net result ...

When it comes to understanding a company’s financial health, the income statement is one of the most critical tools at your ...

Reviewed by David Kindness Fact checked by Vikki Velasquez An accrual has occurred but has not yet been paid for. This can include work or services that have been completed and considered accrued ...

interest expense is generally the primary financing expense on a company's income statement. Here we look at interest expense in the context of evaluating a company's profitability, as well as its ...

it’s necessary to understand operating expenses. In a company’s income statement, revenue represents the top line figure for the amount of money generated from the sale of goods and services.

divide your net income into three categories: 50% for needs, including minimum payments on debt; 30% for wants; and 20% for savings and debt paydown beyond minimums. Sorting your expenses into ...

This is an important financial statement that will show all income earned (or expected to be earned) within a certain time period, minus any recurring, monthly expenses. Note: Crucial expenses ...