Accounting Income Statement

Accounting Income Statement

Saket Modi

20 years: Chartered accountant & educator

The income statement shows an entity’s sources of revenue, expenses incurred and the resulting profit or loss for the period, usually one year. In the fourth video of this series, Saket highlights what is included within the income statement, and the different ways of presenting the information.

The income statement shows an entity’s sources of revenue, expenses incurred and the resulting profit or loss for the period, usually one year. In the fourth video of this series, Saket highlights what is included within the income statement, and the different ways of presenting the information.

Join now to start learning today

Finance Unlocked is the video learning platform built for finance professionals.

This content is also available as part of a premium, accredited video course. Sign up for a 14-day trial to watch for free.

Accounting Income Statement

6 mins 24 secs

Overview

The income statement shows an entity’s sources of revenue, expenses incurred and the resulting profit or loss for the period, usually one year. It is also referred to as the Statement of Financial Performance. There are different formats for presentation of revenue and expenses.

Key learning objectives:

  • What are the items of income and expenses presented in the income statement?

  • How is the profit or loss figure arrived at?

  • What are the different presentation formats of the income statement?

Join now to watch

This content is also available as part of a premium, accredited video course. Sign up for a 14-day trial to watch for free.

Summary
logo-animationlogo-animationlogo-animation

Join now to watch

This content is also available as part of a premium, accredited video course. Sign up for a 14-day trial to watch for free.

Expert
Saket Modi

Saket Modi

Saket is a financial trainer and consultant based out of London. He specialises in advanced accounting, financial reporting and financial analysis, particularly with regards to International Financial Reporting Standards (IFRS), International Public Sector Accounting Standards (IPSAS) and Financial instruments.

Related videos