What is an income statement?

The income statement is an accounting document that shows whether the company made a profit or a loss during a given period.

Calculation

Formula:
Result = Revenue – Expenses

• If Revenue > Expenses = profit
• If Expenses > Revenue = loss

In Algeria

The income statement is part of the mandatory financial statements under the SCF. It is included in the tax filing package.

To learn more:

• Balance sheet
• Accounting result
• Difference between financial management and accounting management