What you’ll learn
- What the income statement is
- How to read an income statement
- The different types of profit/income: gross profit, operating income, ordinary income, and net income
How much profit has your company made once all the various expenses have been stripped away?
Check the income statement to find out! One of three key financial statements, the income statement is a summary of a company’s activities over a period of time. Sounds pretty simple, but income statements can be intimidating. That’s why, in this quick course, you’ll get a clean explanation for what each section shows, what the terms mean, and how various totals are calculated.