N niyati Member Aug 6, 2025 #1 I’m trying to understand financial statements better and want to know what a basic income statement is. Could someone explain its main components and purpose in simple terms? How does it help businesses or individuals?
I’m trying to understand financial statements better and want to know what a basic income statement is. Could someone explain its main components and purpose in simple terms? How does it help businesses or individuals?
N nikhilrajoria Member Aug 7, 2025 #2 It presents the profit and loss account of the company in terms of revenues, expenses, and net profit/ loss over a duration of time.
It presents the profit and loss account of the company in terms of revenues, expenses, and net profit/ loss over a duration of time.
