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The Corporate Finance Institute Accounting
Income Statement
What is the income statement?
The income statement is one of three core statements both in financial
modelling and accounting. The statement displays the company’s
revenue, costs, gross profit, selling and administrative expenses, other
expenses and income, taxes paid and net profit in a coherent and logical
manner.
The statement is divided into periods that logically follow the company’s
operations. The most common periodic division would be monthly,
although certain companies may use quarterly division or a thirteen-
month cycle. Income statements will also often aggregate the periodic
values into a full-year total.
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