Income Statement Templates
Originally published: 30/04/2021 13:45
Publication number: ELQ-88257-1
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Income Statement Templates

Income Statement Templates in Microsoft Excel.

Description
The Income Statement is a summative report listing the financial results of a company's revenues and expenses over a specific period of time.

It is different from the balance sheet due to the fact that it shows how much a company has earned and spent in a specific period of time, rather than a particular point in time.

It also provides detailed insights into the company’s internals for comparison across different businesses and sectors. Such statements are also prepared more frequently at the department- and segment levels to gain deeper insights by the company management for checking the progress of various operations throughout the year, though such interim reports may remain internal to the company.

The statement is often used at the end of a business period; either monthly, quarterly, or annually. This statement can also be used to evaluate financial performance over previous years to provide data and to evaluate the year over performance, reason why it is also called a statement of financial performance.

This basic income statement template is easily editable, allowing you to change the line item descriptions, and is set to automatically tabulate your figures.

The monthly template, as well as the quarterly template, are grouped into categories for easy identification and understanding.

This Best Practice includes
1 Excel file

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Further information

Quick preparation of the report

It becomes pretty easy when revenue streams and expenses are linked to it, apart from filling directly.

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