Income statements detail revenue, expenses, and net income from top to bottom. Reading starts with revenue, deducts expenses, and ends with net income. Subtotal figures help identify missing account ...

Discover how tax liabilities are reflected in balance sheets, income, and cash flow statements. Learn about deferred tax ...

A vertical analysis is used to show the relative sizes of the different accounts on a financial statement. For example, when a vertical analysis is done on an income statement, it will show the top ...

Gross income is the total of all income you receive before taxes. It’s also called pre-tax income. Net income is your income after taxes (or take-home pay). Your gross income figure will always be ...

You don’t need to be a CPA to understand your company’s financial health. You just need to know where to look. That starts with the income statement—also known as the profit and loss (P&L) ...