What is Income Statement?

It is a document that consists of details of how much the company has used, where the money is obtained and how much it used and for what purpose. It also covers loss and profit thing. Income statement of every bank, company or organization plays an important role in defining a whole year expense.

Based on the income statements, the company either hires more employees or waved them off. It’s a true reflection of every individual’s effort in making deals and flourishing their business. Moreover, it also covers how much loss is occurring to the company and also suggests the solutions that are approved by the seniors. Today, the world is moving so fast and everyone is so competitive that there’s no compromise in building the image of the company.

Indeed the smarter the employees will be, the brighter the company will shine. Company’s success isn’t depending on one person’s decision, but it involves many of them. A collection and mutual understanding will always lead to something big and beneficial.

So when you prepare your income statement, make sure you don’t miss-out any detail and it is worth discussing.

How to Make an Income Statement

There are many examples and samples available online for the income statement. They cover sales revenue, profits, loss, net income, income tax expense and so on. You can keep a track of the income of your company with the help of the following template. An income statement format contains extreme importance for any organization because it keeps a record of the expenses and revenues of your organization. These documents are quite delicate that is why it needs to be drafted in the most professional manner. You may not be able to format is as perfect as a ready-made template could be. The reason behind the professionalism of this template is that it has been created under the supervision of experts in this field.

They know the important sections that need to be included in an income statement. You can freely enter your income details for up to three months in the sample. The income and expenses can be provided in it separately. Hence, an income statement example is easy to customize as well, as it has been created in a MS Excel format for your convenience.

Preview image of this Income Statement Template and download link can be found as below.