Talk:Income statement

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Articles for deletion This article was nominated for deletion on 21 April 2008. The result of the discussion was keep.

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[edit] P&L

I changed the wording of the lead. I more commonly hear this concept referred to as a Profit and Loss Statement (P&L); the comment of "outside the US" is not accurate. pinotgris 23:01, 14 May 2007 (UTC)

[edit] Viacom, Inc. income statement

Is Viacom a worthy example of showing an income statement? The lack of CoGS in my opinion leads to confusion due to lack of consistency with examples. I agree.

Should this be changed to an income statement of a company that incurs CoGS, i.e. Honda?

I don't think the Viacom example is very good, and is overly complex. Especially if you look at an IFRS compliant Income Statement, where all the detail is in the notes. I will look for a better example to replace the Viacom P&L. It will also massively reduce the size of the article, which is probably a good thing. AnthonyUK (talk) 17:25, 12 April 2008 (UTC)

[edit] Personal income statement?

Is the table under the section heading "Usefulness and limitations of income statement" supposed to reflect a personal income statement? I guess so -- the expenses include items such as laundry and linen. If that is the case, it should be made clear. In any case, there should be a more representative income statement that includes taxes, etc. Finnancier (talk) 15:02, 12 February 2008 (UTC)

I don't think so, I guess some companies would have laundry expenses. I agree that some of the headings are odd though. Feel free to change them if you think you can make the article better. AnthonyUK (talk) 21:27, 12 February 2008 (UTC)

[edit] To Do List

As I see it, these are the things that need doing on this article: (Feel free to add to the list...) AnthonyUK (talk) 20:30, 23 April 2008 (UTC)

  • globalise the article (should be fairly easy if we change the currency on some of the examples)
  • replace the Viacom example with a better one (can be used to globalise, and we can also introduce an Income Statement produces under international accounting standards which will be better anyway)
  • possibly remove/reword the EPS bit, as this does relate solely to the USA and needs to make this clearer. (EPS is not required on the face of the P&L in all jurisdictions, for example)
  • add sources
  • possibly discuss the relationship between the I/S and the STRGL or SOCIE