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Finance & Banking vocabulary · Financial Statements

Income statement

Meaning in finance & banking, with examples

nounCore term

In finance & banking, income statement means: A financial statement showing a company's revenue, costs and profit or loss over a period, such as a quarter or a year.

In Turkish: gelir tablosu, kar veya zarar tablosu

How it is used

Common in American English and IFRS reports. In the UK people often say profit and loss account, or simply P&L. Analysts read it from the top line (revenue) down to the bottom line (net income).

Example sentences

  1. The income statement shows that interest expenses doubled this year.

  2. Can you send me the income statement for the first half of the year?

Common collocations

  • quarterly income statement
  • prepare an income statement
  • income statement items
  • revenueThe total income a company receives from its normal business activities, such as selling goods or services, before any costs are deducted.
  • net incomeWhat is left of a company's revenue after all costs, interest, taxes and other expenses are deducted. When it is negative, it is called a net loss.
  • balance sheetA financial statement showing what a company owns (assets), what it owes (liabilities) and the owners' share (equity) on a specific date.
  • EBITDAShort for earnings before interest, taxes, depreciation and amortization: a measure of a company's operating profit before financing costs and non-cash expenses.
  • depreciationSpreading the cost of a long-term physical asset, such as a machine or building, over its useful life; also a fall in the value of a currency or asset.

This word in other fields

The same English word can have a different meaning in another field:

More terms: Financial Statements

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This page explains English vocabulary for learners. It is not financial advice.