The income statement is one among the major financial statements you can create—the others being the balance sheet, the statement of cash flows, and the equity statement samples for shareholders. The income statement is the documented financial statements of a company’s performance over an accounting period (yearly or quarterly). This is also called the profit-and-loss statement and is of utmost interest to managers, creditors, and investors for your company.
If you’re not sure where to start, look through this list for that perfect Statement Template to help you get this done with as less stress possible.
17+ Statement Templates - Microsoft Word (DOC), Google Docs, Apple (MAC) Pages - START DOWNLOADING
Income Statement Sample
Monthly Income Statement Template
Restaurant Income Statement Template
Restaurant Income Statement Quarterly Template
Quarterly Income Statement
Simple Personal Income Statement
Simple Pro Forma Income Statement
Simple Income Statement for Small Business
Simple Income Statement for Company
How to Draft an Income Statement
As you can see, there is no standard form for an income statement. However, the simplest Financial Statement Template (of which you can find examples on this page) and the most detailed Simple Profit & Loss Statement Template will have some key points in common.
A complete income statement will have these elements:
- The operating section
- The nonoperating section
- The bottom line
The operating section will itemize the revenues (cash inflows) and expenses (cash outflows) from the company’s transactions over the specified period of accounting time.
The nonoperating section details any profits and gains the company made from other activities that are infrequent and not the company’s primary activities. This also details the costs that are not tied to the actual business transactions, costs such as interest expense and income taxes.
The bottom line will state the subsequent net income (or net loss) for the period under scrutiny. Investors, shareholders, and managers hone in on this part immediately to see how the company is doing financially.
Simple Accounting Income Statement
Simple Annual Income Statement Template
Simple Multi Step Income Statement
Simple Monthly Income Statement Template
Variations of the Simple Income Statement
These free PDFs cover a range of simple income statements of various types, depending on your needs. An overview of some of the more distinct forms you might find useful:
- The Personal Income Statement is for an individual’s financial statement instead of that of a corporation. The company alternatives are the Simple Income Statement for Small Business and Simple Income Statement for Company. A good income statement will read like a Witness Statement Template for shareholders, creditors and investors.
- The Simple Pro Forma Income Statement is based on certain present assumptions and projections. Pro forma is Latin meaning “for the sake of form,” which in this case means provided as a standard courtesy. These statements provide a “what if” account of the company to shareholders and other investors.
- The Simple Multi Step Income Statement separately groups the operational and nonoperational sections of the statement. The alternative is the single-step income statement, which totals both operational and nonoperational profits and expenses in one swoop to arrive at the net income or loss.
- You can also choose to present a Monthly Income Statement or an Annual one, which will cover either the accounting period of one month or one fiscal year.