See the total picture of profits and losses for your business The Monthly Income Statement shows managers and investors how profitable the company was during this period, but also serves as a barometer for the business on a regular short-term basis. The income statement shows a company's income and expenses over a particular period, and a monthly time span allows CFOs, controllers, and analysts to see how the firm's profits and expenses behave over a short term, and thus how business functions.Īlso known as the Profit and Loss statement (P&L), this statement is a tracker of how revenues (also known as the "top line") are transformed into the net income (also known as the "bottom line"), after the cost of rendering goods and/or services, the cost of borrowing, and the cost of administrative and general functions have been deducted. Having a Monthly Income Statement is a must for a firm's financial management.
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