The profitability of a company's goods and/or services is often measured via the income statement.
An income statement or profit and loss account, also known as a profit and loss statement (P&L), revenue statement, statement of financial performance, earnings statement, statement of earnings, operating statement, or statement of operations, is one of a company's financial statements that details its income and outgoings for a specific time period.
It explains how the revenues, commonly referred to as the "top line," are converted into net income or net profit (the result after all revenues and expenses have been accounted for). The income statement's goal is to demonstrate to managers and investors whether the business gained money (profit) or lost money (loss) during the reporting period.
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