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An income statement represents a period of time (as does the cash flow statement ). This contrasts with the balance sheet, which represents a single moment in time. Charitable organizations that are required to publish financial statements do not produce an income statement.
An income statement —or profit and loss report ( P&L report ), or statement of comprehensive income, or statement of revenue & expense —reports on a company's income, expenses, and profits over a stated period. A profit and loss statement provides information on the operation of the enterprise.
Form W-2 (officially, the " Wage and Tax Statement ") is an Internal Revenue Service (IRS) tax form used in the United States to report wages paid to employees and the taxes withheld from them. [1]
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Financial statement analysis (or just financial analysis) is the process of reviewing and analyzing a company's financial statements to make better economic decisions to earn income in future.
In business and accounting, net income (also total comprehensive income, net earnings, net profit, bottom line, sales profit, or credit sales) is an entity's income minus cost of goods sold, expenses, depreciation and amortization, interest, and taxes for an accounting period.
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