*Check out our Income Statement section on our Resource Library for a full walk through!
The Income Statement is one of the key financial statements, along with the cash flow statement and the balance sheet. You will also hear the Income Statement referred to as a Profit & Loss or P&L. This very critical financial statement shows all the revenue and expenses of a company or entity. It plays a key role in helping investors, creditors, and even the company itself. With the income statement you can evaluate past performance, try to forecast future performance, assess risk of achieving cash flows, and more. We’ve created this tutorial to try to help everyone learn the basics of the P&L. Please watch and leave comments with questions or feedback!