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Income Statement Glossary

Adapted from content excerpted from the American Express® OPEN Small Business Network


Income Income generated by the business
Cost of goods What it costs the business to sell its inventory or service
Gross profit margin Revenue minus cost of goods
Operating expenses Overhead and labor expenses necessary to run the business
Total expenses Sum of overhead and labor expenses
Net profit Gross profit minus total expenses
Depreciation The amount by which the value of a company asset has fallen in a given time period
Net profit before interest Net profit minus depreciation
Interest All interest on debts
Net profit before taxes Net profit minus interest
Profit after taxes Profit minus interest. This is also referred to as the bottom line.


To Financials Toolbox


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Bette Daoust  |  June 23, 2016
Thanks for the great example of a marketing strategy statement, we have been able to use this as a template for our own statement. -Dr. Bette Daoust
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Abdulkadir Muhammad  |  August 17, 2015
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Alex Shakaryan  |  October 13, 2014
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Gopal krishna Debnath  |  November 28, 2013
customer is the focal person of a business, hence he/she should be properly honored and addressed. clear description of the product is very important so that actual customer get the real and to the point information.
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Sandeep Chandra  |  February 03, 2011
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Muhammad Hamayun  |  December 09, 2010
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moqassalamin amin  |  September 01, 2010

 

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