Live briefing
Everything about Income statement
Type of financial statement
An income statement or profit and loss (P&L) account is one of the financial statements of a company and shows the company's revenues and expenses during a particular period. Wikipedia →
🧭 Start here: a 6-step reading path
- Read the overview: Income statementA 5-minute orientation
- Skim a recent paper: Corporate Social Responsibility and the Misclassification of Income Statement Items during the Coronavirus PandemicInfluential work since 2022
- Pick up a classic book: AAT qualifications and credit framework (QCF) AQ2013The most-reprinted book on the subject
- Read the landmark paper: Bank Relationships and the Value Relevance of the Income Statement: Evidence from Income‐Statement ConservatismCited 33 times
- Go sideways: Net incomeA closely related topic
- Go sideways: Financial statement analysisA closely related topic
📖 Definitions
Noun A calculation which shows the profit or loss of an accounting unit (company, municipality, foundation etc.) during a specific period of time, providing a summary of how the profit or loss is calculated from gross revenue and expenses.
🗂️ The subject at a glance
🏆 Landmark papers (most cited)
Bank Relationships and the Value Relevance of the Income Statement: Evidence from Income‐Statement Conservatism
Is Other Comprehensive Income Reported in the Income Statement More Value Relevant? The Role of Financial Statement Presentation
THE TAX ELASTICITY OF FINANCIAL STATEMENT INCOME
Does XBRL adoption eliminate misclassification of income statement items?
Non-IFRS Disclosure and Income Statement Disaggregation
Investment Professionals’ Preferences Regarding Income Statement Presentation
The effect of financial statements on financial review results. Statement of financial position or income statement
Consolidated Balance Sheet and Income Statement for Agriculture
🆕 Influential since 2022
Corporate Social Responsibility and the Misclassification of Income Statement Items during the Coronavirus Pandemic
Prehospital stroke care in low- and middle-income countries: A World Stroke Organization (WSO) scientific statement
Consensus statement on standards for neurocritical care units in low-income and middle-income countries (LMICs)
Incorporating Financial Statement Information to Improve Forecasts of Corporate Taxable Income
Income statement mismatching has not reduced the informativeness of earnings over time
📚 Books worth reading
AAT qualifications and credit framework (QCF) AQ2013BPP Learning Media (Firm) · 2013- 📕Bilanzierung nach Handelsrecht und SteuerrechtRudolf Federmann · 1974
Trends in Managerial and Financial AccountingCees van Dam · 1978- 📕Balance sheet-cash flow algorithm for analysis of 1979 farm finance survey dataLyle P. Schertz · 1983
- 📕U.S. and state farm sector financial ratios, 1960-91 · 1993
- 📕U.S. and state farm sector financial ratios, 1960-91Kenneth Erickson, United States. Department of Agriculture. Economic Research Service · 1993
- 📕Beck'scher Bilanz-KommentarWolfgang Dieter Budde, Helmut Ellrott · 2006
Earnings and ProfitsRobert Feinschreiber · 1979
Ranked by number of editions on Open Library, a rough measure of how lasting a book is.
🔗 Related topics
- Net income In business and accounting, net income is an entity's income minus cost of goods sold, expenses, depreciation and amortization, interest, and taxes, and…
- Financial statement analysis Financial statement analysis (or just financial analysis) is the process of reviewing and analyzing a company's financial statements to make better economic…
- IAS 16 International Accounting Standard 16 Property, Plant and Equipment or IAS 16 is an international financial reporting standard adopted by the International…
- Historical cost The historical cost of an asset at the time it is acquired or created is the value of the costs incurred in acquiring or creating the asset, comprising…
- Statement of changes in equity A statement of changes in equity is one of the four basic financial statements. It is also known as the statement of changes in owner's equity for a sole…
- Expense An expense is an item requiring an outflow of money, or any form of fortune in general, to another person or group as payment for an item, service, or…
- Revenue In accounting, revenue is the total amount of income generated by the sale of goods and services related to the primary operations of a business. Commercial…
- Provision (accounting) In financial accounting under International Financial Reporting Standards (IFRS), a provision is an account that records a present liability of an entity…