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In this video, you'll learn about the income statement, also known as the profit and loss statement or P&L. It is one of the three major financial statements in accounting, along with the balance sheet and cash flow statement. These reports provide insight into a business's financial health. The video covers what an income statement looks like and how it can be used to measure financial performance. The creator also mentions having previously covered the balance sheet and cash flow statement in other videos. The income statement is a requested topic by viewers, with a shoutout to one particular subscriber named Nili.
