This topic of the financial management course explores the vital role of the income statement. The income statement determines the financial performance of your business. You also learn how to compile and use the statement effectively.
This topic aims to increase your understanding of accounting principles and practices by solving the following problems:
- How do I measure the financial performance of my business?
- What are the key figures in calculating profitability for my business?
- How do incomes affect the bottom line of my business?
- How do expenses affect the bottom line of my business?
- How is the profit of my business distributed?
- How does the income statement work in practice?