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What is the purpose of income statement ?

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Question ajoutée par Samer Khatib , Economics Moderator , Bayt.com
Date de publication: 2016/08/19
SYED UMAIR JAVED
par SYED UMAIR JAVED , Accounts & Finance Executive , Corporate Research and Investigations Private Limited

The purpose of income statement is to explain the managers and investors that company made or lost money during the period reported. It helps to mitigate cost and to build strategy to increase profits in the coming financial year.

VENKATA RAO
par VENKATA RAO , HR Manager , BSCPL Infrastructure Ltd

Income statement is very important concept

The purpose of the income statement is to show managers and investors whether the company made or lost money during the period being reported. One important thing to remember about an income statement is that it represents a period of time like the cash flow statement and also The purpose of the income statement is to show the reader how much profit or loss an organisation generated during the finiancial year

 

CS Naushad Alam
par CS Naushad Alam , Assistant Accounts Manager , PRIMO FOODS PRIVATE LIMITED

Income Statement is necessary for all business entity. It shows the growth and profitability of business.

In one word " It is a Health Report of the Company".

 

 

Utilisateur supprimé
par Utilisateur supprimé

The purpose of income statement is to be able to gauge the financial performance of a company or an entity in a given period of time. It'll help you measure the stability of an entity, hence, play a big part in making business decisions. 

G M Masudur Rahman
par G M Masudur Rahman , Manager Accounts & Finance , Noman Group of Industries

To compute profit & loss of a company and Income tax assessment 

Hany Makram
par Hany Makram , Plants HR and Admin. Manager , Marmonil

The Purpose of Income Statement is to reflect the profit and loss of any company and Income tax situation.

Amalya Ngwe
par Amalya Ngwe , account clerk , tiko council

An income statement is important in a company because it shows to the stakeholders a true and faire view of the company's position whether it is making profit or a loss, Hence encouraging investors amd also the employees to know their efficiency

Muhammad Abbas
par Muhammad Abbas , Account Officer , Midas Safety (Shahbaz Garments (Pvt.) Ltd)

know aboutprofit and loss of business

Nazmul Islam CMA
par Nazmul Islam CMA , Manager , Robi Axiatal Ltd.

The prime objective of income statement is match the expenses of a one year period against the revenue of that period to determine the income or loss of that period.

Mohammad Tahan
par Mohammad Tahan , Customer Experience Executive , FlyDubai ( Temporary Contract )

to remind you have you have a lot of payments :D

Nabil Alkadi
par Nabil Alkadi , Sales & Marketing Manager , NPP Co. Ltd

It shows financially where the establishment stands for employees, investors and managements.

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