Expenses losses and net profit or loss. Here are the details Income Revenue is all income generat from the sale of a businesss primary goods or services. Revenue can also be referr to as the top line because it is the first line in the income statement. Operating income is defin as income from primary business activities. Nonoperating income is income earn from secondary activities such as interest rental income and partnerships.
Profit Profit is income
Generat outside the sale of your New Zealand Telegram Number Data primary goods or services. For example the sale of an asset can be categoriz as a gain. Gross profit Gross profit is your remaining income after ducting cost of goods sold COGS the direct costs associat with producing goods or providing services. Revenue COGS gross profit Also read Types of Accounts Payable Reports Benefits and Tips for Managing Them Burden Expenses include all operational costs necessary to run your business. Operating expensesalso known as selling general and administrative expensesinclude costs such as advertising insurance and rent.
Costs relat to producing
Your goods or providing services Malaysia Phone Number List are not includ in the expenses section of your income statement. Loss Losses include money lost due to activities outside your primary goods or services transaction. For example paying a lawsuit settlement is consider a loss. Net income or net loss Net incomeor lossis what remains after all income and expenses are taken into account. income is greater than expenses it is call net profit. If the amount is negative expenses are greater than income for the period it is call a net loss. Net income total income profit total costs loss Also read Main Receivables Reports that Every Business Must Have Income Statement Format income statement.