Income Statement Explained

7 min
Microcast
  • Income Statement Explained
    Ken Burke 7 min
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    Your income statement (or P&L) tells the entire financial story of your business at a glance. The income statement is also an industry-standard statement, so it's readily understood by banks or investors. The story it tells? The story of how realistic your business is based on your forecasts, how many expenses you have, your product, sales & marketing costs, as well as your staffing projections.

Your income statement (or P&L) tells the entire financial story of your business at a glance. The income statement is also an industry-standard statement, so it’s readily understood by banks or investors. The story it tells? The story of how realistic your business is based on your forecasts, how many expenses you have, your product, sales & marketing costs, as well as your staffing projections.