Income Statement

Financial Statement | Income Statement | Income Statement Aids

Income Statement

Income Statement Menu

Income Statement refers to an overview of competitive Income Statements for specific periods. It also shows how profitable the company base on the given period. The income statements gives the user an overview of the revenue, less the expenses and losses.

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Income Statement Menu List

Income Statement Terms on Oojeema Prime:

Field	Description
1. Year Filter	Allows the user to Filter a specific year.
2. Export	Allows the user to Export the Report into Spreadsheet
3. Date Range Tab(Monthly, Quarterly, Yearly)	gives the user a set of date range on how they will view their Balance Sheet.
4. Account	set of accounts included on the Income Statement which mainly compose of Revenue, Cost and Expense.
5. Revenue	refers to any income generated from business operations with the inclusion of discounts and deductions for returned merchandise. Set of Revenues can be seen in Revenue Tab under Chart of Account Maintenance Module.
6. Cost	refers to any value of money that will be used in products or services.
7. Gross Income	refers to any amount that the company earns from the sale of goods or services, before any other expenses have been deducted.
8. Expense	refers to any type of expenditure that flows through the Income Statement. Expense is deducted to revenue to acquire the business net income. Set of Expenses can be seen in Expense Tab under Chart of Account Maintenance Module.

Notes:

• For detailed instructions on how to Export the Income Statement, the user can visit the Income Statement Job Aids which can be found here.