Discover key differences in income statements for merchandising and service companies, including inventory, cost of goods sold (COGS), and revenue variations.

You don’t need to be a CPA to understand your company’s financial health. You just need to know where to look. That starts with the income statement—also known as the profit and loss (P&L) ...

Start by looking at cash flow from operations, the section that tells you how much money the company’s main business is ...

The provision for income taxes on an income statement is the amount of income taxes a company estimates it will pay in a given year. The company's final tax bill may be slightly more or less than the ...

Explore how clean surplus accounting exposes hidden income statement items, impacts net income, and its significance for ...

Revenue and income are also prominent fixtures in tax forms filed with the IRS, as well as in company strategies for ...