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earnings report
(redirected from Income Statements)

   Also found in: Dictionary/thesaurus, Legal, Financial 0.01 sec.
earnings report,
n a statement issued by a company showing its earnings or losses over a given period. The earnings report lists the income earned, expenses, and net result. Also called
income statement.


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Income statements start with a figure for gross receipts or sales and then subtract all the costs involved in realizing those sales, such as the cost of goods sold, administrative expenses, taxes, interest, and other operating expenses.
More recently, the FASB and the IASB have seriously considered banishing NI entirely from income statements (see, for example, the front-page story of The Wall Street Journal on May 12, 2007, "Profit as We Know It Could Be Lost With New Accounting Statements").
Your Personal Income Statement: Income statements following the following structure: Income ?
 
 
 
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