business expenses for a given time period. To help explain things easily, let's consider an apparel manufacturer as an example in outlining the major components of the income statement ...

By combining these elements, the income statement illustrates just how much income your company makes or loses during the year by subtracting cost of goods and expenses from total revenue to ...

Depreciation expense is recognized on the income statement as a non-cash expense that reduces the company's net income. Accumulated depreciation appears in a contra account on the balance sheet ...

One effective way to keep track of your income and expenses is by using personal financial statements, much like those used by corporations. These statements clearly show your financial health and ...

The Financial Accounting Standards Board released an update to clarify the interim effective date of its standard on ...

interest expense is generally the primary financing expense on a company's income statement. Here we look at interest expense in the context of evaluating a company's profitability, as well as its ...