Pytania

What are the three major financial statements of a company?

Income statement, balance sheet, cash flow statement

What does the income statement focus on?

On the revenue, Expenses, Gains and losses of company during a particular period

What is the difference between a balance sheet and an income statement?

A balance provides the snapshot of a company’s financials as a particular date, the income statement reports income through a specific period, usually a quarter or a year, and its heading indicates the duration

What Are the Four Key Elements of an Income Statement?

Revenue, Expenses, Gains, Losses

What Is the Difference Between Operating Revenue and Non-Operating Revenue? (Rozróżnienie między przychodami operacyjnymi a przychodami pozabilansowymi)

Operating revenue is realized through a business primary activity such as selling its products. Non-operating revenue comes from ancillary sources such as interest income from capital held in a bank or income from rental of business property