Definition of "income statement" []

• 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. (noun)

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• "In nonhyperinflationary countries, translation gains and losses bypassed the parent’s income statement and were accumulated in a separate equity account on the parent’s balance sheet, typically called “cumulative translation adjustment.”"
• "The financing scheme Dow recommended was based on a projected balance sheet (Exhibit 1) and income statement (Exhibit 2) that resulted from a joint study by Dow Chemical Pacific and the First National City Bank project finance group."
• "Up to a point, analysts can further circumvent the difficulties caused by varying treatments of income statement items—and adjust their opinions accordingly—by paying careful attention to the balance sheet footnotes, which provide additional clues as to the accounting-treatment policies that a filmed entertainment company’s management has adopted."