What's it: An income statement tells you the company's financial performance during a specific period, quarterly or annually. It shows you three basic elements, namely, revenue, expenses, and profit. Other names for the income statement
Income Statement
Expense: Meaning, How It Reported in The Financial Statements
Expense is the cost of providing goods and services. In accounting, it represents an outflow of resources from a company during an accounting period. That includes purchasing raw materials, paying rent, wage labor, depreciation, and marketing and
Revenue: Types, How To Calculate and Report It
Revenue is money earned by an organization. Businesses get it by selling products. The government receives it through tax collection. That's why I don't use the word "product sales" because, in the case of the government, they don't sell