7 min read

The Income Statement: A Guide for Accountants & Business Owners

By Aaron Sullivan on Mar 11, 2020 11:21:48 AM

Accounting professionals understand the importance of an accurate income statement...it's a bit like a thermometer—you can use it to gauge whether things are going well or if your company is at risk of going under. But do business owners get it? (If you're an accountant reading this post, share it with your clients!)

By looking at this one report, you can immediately understand whether you're operating at a profit (or a loss—but we hope not!), what your highest expenses are, and what's making you money.

Topics: automated bookkeeping accounting definitions income statement accounting reports

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