The Income Statement: The Flow of Progress


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The Income Statement: The Flow of Progress
1010202The Income Statement: The Flow of ProgressLet's go back for a moment to our football game analogy. You'll remember we identified the income statement as a report that tallies the cumulative effect of all the income and expense transactions that occurred between two balance sheet dates. All those transactions typically are conducted with the idea of producing a profit for the company. The income statement shows the company's success in achieving that objective.
1011300They Say Timing Is Everything—And They're Right! The income statement is the repo…
Citation
Gene Siciliano, C.M.C., C.P.A.: Finance for Non-Financial Managers. The Income Statement: The Flow of Progress, Chapter (McGraw-Hill Professional, 2003), AccessEngineering Export