Discover how cash purchases impact a company's income statement and where to find detailed records in financial reports.

What Is An Income Statement? An income statement lists a company’s income, expenses, and resulting profits over a specific time frame, usually a quarter or fiscal year. Companies create income ...

A balance sheet displays what a company owns, what it owes, how it's financed, and its shareholders' equity at a particular point in time. An income statement displays the company's revenues and ...

Income statements detail revenue, expenses, and net income from top to bottom. Reading starts with revenue, deducts expenses, and ends with net income. Subtotal figures help identify missing account ...

Forbes contributors publish independent expert analyses and insights. Carrie Brandon Elliot analyzes international tax issues. This article is more than 3 years old. Money question, where to invest, ...

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) ...