💥Income Statement Cheat Sheet → https://accountingstuff.com/shop
🖊Income Statement Practice Questions → https://accountingstuff.com/practice-questions

The 'Income Statement', or 'Profit and Loss Statement' (P&L) is one of the three major Financial Statements, along with the Balance Sheet and the Statement of Cash Flows. In this tutorial, you'll find out what the Income Statement is and how you can use it to measure a business's financial performance.

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⏱️TIMESTAMPS
00:00 - Intro
01:02 - Income Statement Definition
01:10 - What a Basic Income Statement Looks Like
02:10 - An Analogy
02:37 - Expanding the Income Statement
03:16 - Direct Costs - Cost of Sales
04:48 - Gross Profit
05:10 - Indirect Costs - Overheads
06:15 - Operating Profit
06:42 - Comparative Periods
07:18 - Example - Imaginary Company
08:17 - Financial Ratio Analysis - Gross Profit Margin
09:34 - Interest Expenses & Tax
10:01 - Net Profit
10:12 - Gross Profit vs Operating Profit vs Net Profit

🔗VIDEO LINKS
▪ Balance Sheet → https://youtu.be/YZyBSU6YdmM
▪ Cash Flow Statement → https://youtu.be/Xy-yDw0gsgc
▪ Book Review → https://youtu.be/oNw4guzrzG4

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DISCLAIMER

Some of the links above are affiliate links, where I earn a small commission if you click on the link and purchase an item. You are not obligated to do so, but it does help fund these videos in hopes of bringing value to you!

For sponsorship, product reviews, and collaboration, you can email me here: james@accountingstuff.co
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