- published: 19 Aug 2009
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An income statement (US English) or profit and loss account (UK English) (also referred to as a profit and loss statement (P&L), statement of profit or loss, revenue statement, statement of financial performance, earnings statement, operating statement, or statement of operations) is one of the financial statements of a company and shows the company’s revenues and expenses during a particular period. It indicates how the revenues (money received from the sale of products and services before expenses are taken out, also known as the “top line”) are transformed into the net income (the result after all revenues and expenses have been accounted for, also known as “net profit” or the “bottom line”). It displays the revenues recognized for a specific period, and the cost and expenses charged against these revenues, including write-offs (e.g., depreciation and amortization of various assets) and taxes. The purpose of the income statement is to show managers and investors whether the company made or lost money during the period being reported.
Khan Academy is a non-profit educational organization created in 2006 by educator Salman Khan with the aim of providing a free, world-class education for anyone, anywhere. The organization produces short lectures in the form of YouTube videos. In addition to micro lectures, the organization's website features practice exercises and tools for educators. All resources are available for free to anyone around the world. The main language of the website is English, but the content is also available in other languages.
The founder of the organization, Salman Khan, was born in New Orleans, Louisiana, United States to immigrant parents from Bangladesh and India. After earning three degrees from the Massachusetts Institute of Technology (a BS in mathematics, a BS in electrical engineering and computer science, and an MEng in electrical engineering and computer science), he pursued an MBA from Harvard Business School.
In late 2004, Khan began tutoring his cousin Nadia who needed help with math using Yahoo!'s Doodle notepad.When other relatives and friends sought similar help, he decided that it would be more practical to distribute the tutorials on YouTube. The videos' popularity and the testimonials of appreciative students prompted Khan to quit his job in finance as a hedge fund analyst at Connective Capital Management in 2009, and focus on the tutorials (then released under the moniker "Khan Academy") full-time.
Statement may refer to:
Profit & Loss: In the Currency & Derivative Markets is a monthly business magazine founded by Julie Ros in July 1999 specializing in coverage of foreign exchange and derivative markets.
Each month, Profit & Loss looks at the changes taking place in the industry - the strategic shifts into new markets and products and the technological advances that are changing the way the FX and derivatives markets function.
The magazine's publisher is P&L Services Ltd, a privately held publishing company based in London.
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The income statement, revenue, gross profit, operating profit, net income, ROA and ROE. Created by Sal Khan. Watch the next lesson: https://www.khanacademy.org/economics-finance-domain/core-finance/stock-and-bonds/valuation-and-investing/v/earnings-and-eps?utm_source=YT&utm;_medium=Desc&utm;_campaign=financeandcapitalmarkets Missed the previous lesson? Watch here: https://www.khanacademy.org/economics-finance-domain/core-finance/stock-and-bonds/valuation-and-investing/v/price-and-market-capitalization?utm_source=YT&utm;_medium=Desc&utm;_campaign=financeandcapitalmarkets Finance and capital markets on Khan Academy: Life is full of people who will try to convince you that something is a good or bad idea by spouting technical jargon. Most of them have no idea what they are talking about. Don'...
I explain the income statement and format of the statement
This video defines what an income statement is and provides a brief explanation of its role. Education Unlocked is your source for business and financial education. To view the entire video library for free, visit http://www.EducationUnlocked.org/ To like us on Facebook, visit https://www.facebook.com/EducationUnlocked123 Education Unlocked is the creation of Michael McLaughlin, who went from teenage homelessness to a PhD. The goal of Michael's life is to increase access to education so all people can achieve their dreams. To learn more about Michael's story, visit http://www.MichaelMcLaughlin.com/
Accounting Basics 1.2 - Income Statement Link to Question: http://bit.ly/1puDv5s In this video series viewers will learn to prepare and understand basic income statements, balance sheets, and statements of retained earnings. The second video in the series goes over how to prepare the income statement. Here is a online class accounting with a serial 40 online accounting lessons for you. With my accounting classes, you must not go to schools in accounting to training for accountant. Subscribe for more lessions, all free :) I donot own this video. Here is Creative Common Videos in youtube. Thanks for watching!
What is an income statement? The income statement tells the story of the business. Performance is measured by how much money the company earned compared to how much it spent. In mathematical terms: revenues - expenses = net income. To understand why an income statement is important, think of an internet startup that’s run out of the basement of the founder’s parents. Its assets consist of a computer, a desk and fold-out couch—as well as a few pens, some Post-it notes and a coffee cup. Not a very impressive company, and based on its “balance sheet” you wouldn’t give it a second look. But look again. The company has no real expenses other than pizza and beer, as well as the cost of renting internet server space every month. The site is beginning to generate cash. Each month the hits it ge...
Link to Question: http://bit.ly/1puDv5s Previous Video: https://www.youtube.com/watch?v=tel4AdBvEq4 Next Video: https://www.youtube.com/watch?v=2079NMGLvvo In this video series viewers will learn to prepare and understand basic income statements, balance sheets, and statements of retained earnings. The second video in the series goes over how to prepare the income statement. This video and the attached worksheet were prepared by Tony Bell of Thompson Rivers University - I encourage educators to freely use, edit and modify these videos and the attached worksheet - they are available under Creative Commons Licenses.
Income Statement Explained: Comprehensive Income Statement Tutorial - Profit & Loss Statement The Income Statement (aka Profit & Loss Statement) is one of the 4 Main Financial Statements. The income statement is one of the primary outputs of a financial accounting system. The income statement is a performance report. The income statement measures the performance of a business over a set time period based on its ability to earn profits over that set period. While a balance sheet (another key financial statement) shows a snapshot picture in time, e.g. 21-Nov-2014, the income statement more closely resembles a ‘video’ as it measures performance over a set time period, e.g. 1-Jan-16 through 31-Dec-16. Note: the period need not be a year, it may be a month, quarter, half-year, etc. How d...
This video series is for those new to accounting or individuals who just want to know a little more about accounting basics. That is my target audience. In this video I explain the Income Statement and contrast it with another concept that is often confused with the Income Statement...Cash Flows. To make the concept more concrete, I compare business income and cash flow with that of an ordinary household; work completed, pay day, and paying bills. I also walk the viewer through an actual income statement explaining how it is organized and how information on the statement is related. Thank you for watching! Source: Warren, C.S. (2008). Survey of Accounting (Fourth Edition). Mason, OH: South-Western Cengage Learning. (I really like this book so check it out!) For my complete video librar...
This is how to calculate an income statement and balance sheet and subsequent questions in relation to the two financial reports
Chapter 4 - Income Statement & Related Information