|Income statement (statement of operations)|
Information about financial, finance, business, accounting, payroll, inventory, investment, money, inventory control, stock trading, financial advisor, tax advisor, credit.
Main Page: money, inventory, tax advisor, financial, credit, accounting, financial advisor, business,
Also see related: property, home financing, financing, homes, first time homebuyer, credit, home, condo, real estate,
Definition of Income statement (statement of operations)
Income statement (statement of operations)
A statement showing the revenues, expenses, and income (the
income that has been earned but not yet received. For instance, if you have a non-registered Guaranteed Investment Certificate (GIC), Mutual Fund or Segregated Equity Fund, growth accrues annually or semi-annually and is taxable annually even though the gain is only paid at maturity of your investment.
Cumulative gains or losses reported in shareholders'
Cash flow provided by operating
operations Reported income from continuing operations
Pretax income reported on the income statement.
A firm's net cash inflow resulting directly from its regular operations
A statement that shows where a company’s cash came from and where it went for a period of time, such as a year.
A financial report that shows the movement in cash for a business during an accounting period.
Adjusted cash flow provided by continuing operations
A section on the cash-flow Stockholders’ equity statement that shows how much cash came into a company and how much went out during the normal course of business.
income statement that presents items as a percentage of revenues.
An annual statement filed by a life insurance company in each state where it does
That portion of the total income tax provision that is based on
That portion of the total income tax provision that is the result
Net income and the gain or loss on disposal of a business segment whose assets and operations are clearly distinguishable from the other assets and operations of an entity.
income less income tax.
income that a company receives in the form of dividends on stock in other companies that it holds.
Earned income is generally an individual's salary or wages from employment. It also includes some taxable benefits. Earned income also includes business income if the individual is self-employed. Earned income is used as the basis for calculating RRSP maximum contribution limits.
earnings before interest and income tax (EBIT)
A measure of profit that
Cash flow plus change in present value.
Employee Retirement Income Security Act of 1974 (ERISA)
A federal Act that sets minimum operational and funding standards for employee benefit
External Financial Statements
Corporate financial statements that have been reported on by an external independent accountant.
financial reports and statements
Financial means having to do with
Financial reports or statements
The Profit and Loss account, Balance Sheet and Cash Flow statement of a business.
Also called a busted convertible, a convertible security that is trading like a straight
Assets that pay a fixed-dollar amount, such as bonds and preferred stock.
The market for trading bonds and preferred stock.
A security that pays a specified cash flow over a
Funds From Operations (FFO)
Used by real estate and other investment trusts to define the cash flow from
Net earnings after all expenses for an accounting period are subtracted from all
One who receives income from a trust.
A bond on which the payment of interest is contingent on sufficient earnings. These bonds are
Income from Continuing Operations
After-tax net income before discontinued operations,
A mutual fund providing for liberal current income from investments.
Mutual funds that seek regular income. This type of fund invests primarily in government, corporate and other types of bonds, debt securities, and other income producing securities and in certain circumstances can also hold common and preferred shares.
A form of earnings management designed to remove peaks and valleys
This is a tax planning strategy of arranging for income to be transferred to family members who are in lower tax brackets than the one earning the income, thus reducing taxes. Even though attribution rules limit income splitting, there are still a number of legitimate ways to do so, such as through the use of spousal RRSPs.
An accounting statement that summarizes information about a company in the following format:
One of the basic financial statements; it lists the revenue and expense accounts of the company.
Financial statement that summarizes sales revenue
A financial report that summarizes a company’s revenue, cost of
Financial statement that shows the revenues, expenses, and net income of a firm over a period of time.
A financial statement that displays a breakdown of total sales and total expenses.
Common stock with a high dividend yield and few profitable investment opportunities.
What the business paid to the IRS.
A government tax on the income earned by an individual or corporation.
Income Tax Expense
See income tax provision.
Income Tax Provision
The expense deduction from pretax book income reported on the
A policy designed to lower inflation without reducing aggregate demand. Wage/price controls are an example.
income that a company receives in the form of interest, usually as the result of keeping money in interest-bearing accounts at financial institutions and the lending of money to other companies.
The revenue from a portfolio of invested assets.
Life Income Fund
Commonly known as a LIF, this is one of the options available to locked in Registered Pension Plan (RPP) holders for income payout as opposed to Registered Retirement Savings Plan (RRSP) holders choice of payout through Registered Retirement income Funds (RRIF). A LIF must be converted to a unisex annuity by the time the holder reaches age 80.
a written expression of organizational purpose that describes how the organization uniquely meets its targeted customers’ needs with its products or services
Monthly income preferred security (MIP)
Preferred stock issued by a subsidiary located in a tax haven.
GDP with some adjustments to remove items that do not make it into anyone's hands as income, such as indirect taxes and depreciation. Loosely speaking, it is interpreted as being equal to GDP.
National Income and Product Accounts
The national accounting system that records economic activity such as GDP and related measures.
Net Cash after Operations
Cash flow available for debt service—the payment of interest and principal on loans. Generally calculated as cash provided by operating activities before interest
The company's total earnings, reflecting revenues adjusted for costs of doing business,
The profit a company makes after cost of goods sold, expenses, and taxes are subtracted from net sales.
The last line of the income statement; it represents the amount that the company earned during a specified period.
The excess of revenues over expenses, including the impact of income taxes.
net income (also called the bottom line, earnings, net earnings, and net
Notes to the financial statements
A detailed set of notes immediately following the financial statements in
A statement published by an issuer of a new municipal security describing itself and the issue
Buying or selling of bonds by the central bank.
The net income of a business, less the impact of any financial activity,
A measure of results produced by the core operations of a firm. It is common
operations flow document
a document listing all operations
Permanent Income Hypothesis
Theory that individuals base current consumption spending on their perceived long-run average income rather than their current income.
Pro forma financial statements
Financial statements as adjusted to reflect a projected or planned transaction.
Pro forma statement
A financial statement showing the forecast or projected operating results and balance
profit and loss statement (P&L statement)
This is an alternative moniker
RATIO OF NET INCOME TO NET SALES
A ratio that shows how much net income (profit) a company made on each dollar of net sales. Here’s the formula:
RATIO OF NET SALES TO NET INCOME
A ratio that shows how much a company had to collect in net sales to make a dollar of profit. Figure it this way:
income expressed in base-year dollars, calculated by dividing nominal income by a price index.
Registered Retirement Income Fund (Canada)
Commonly referred to as a RRIF, this is one of the options available to RRSP holders to convert their tax sheltered savings into taxable income.
A legal document that is filed with the SEC to register securities for public offering.
This is the restoration of a lapsed life insurance policy. The life insurance company will require evidence of continuing good health and the payment of all past due premiums plus interest.
the profit earned by a responsibility center that exceeds an amount "charged" for funds committed to that center
Also called economic value added. Profit minus cost of capital employed.
Residual income (RI)
The profit remaining after deducting from profit a notional cost of capital on the investment in a business or division of a business.
Restatement of Prior-Year Financial Statements
A recasting of prior-year financial statements to remove the effects of an error or other adjustment and report them on a new basis.
Also called margin income, the difference between income and cost. For a depository
Billing method in which the sales for a period such as a month (for which a customer also
Statement of cash flows
A financial statement showing a firm's cash receipts and cash payments during a
Statement of Cash Flows
One of the basic financial statements; it lists the cash inflows and cash outflows of the company, grouped into the categories of operating activities, financing activities, and investing activities. The statement of Cash Flows is prepared for a specified period of time.
statement of cash flows
One of the three primary financial statements
Statement of cash flows
Part of the financial statements; it summarizes an entity’s cash
statement of cash flows
Financial statement that shows the firm’s cash receipts and cash payments over a period of time.
A method of cash budgeting that is organized along the lines of the statement of cash flows.
Statement of Financial Accounting Standards No. 52
This is the currency translation standard currently
Statement of Financial Accounting Standards No. 8
This is a currency translation standard previously in
statement of financial condition
See balance sheet.
Statement of retained earnings
An adjunct to the balance sheet, providing more detailed information about the beginning balance, changes, and ending balance in
Statement on Management Accounting (SMA)
a pronouncement developed and issued by the Management
Statement Retained Earnings
One of the basic financial statements; it takes the beginning balance of retained earnings and adds net income, then subtracts dividends. The statement of Retained Earnings is prepared for a specified period of time.
stockholders' equity, statement of changes in
Although often considered
current compensation that is taxed at a future date
current compensation that is never taxed
Related to : financial, finance, business, accounting, payroll, inventory, investment, money, inventory control, stock trading, financial advisor, tax advisor, credit.