![]() You can calculate income statements on a monthly, quarterly, bi-annual, or yearly basis depending on the need of the organization involved. It also allows the management to determine a change of direction in business activities. Further, it helps the management to plan for the future. Preparing an income statement is a safe and sure way of ensuring there are no doubts about a company’s financial outlook. Guessing the performances of an organization without a clearly verified process can give deceptive and confusing results. ![]() ![]() In a layman’s word, income statements show if a company is losing or profiting within the time checked.
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