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in this video you'll learn what's an income statement is I'll show you what it looks like and how you can use it to measure a business's financial performance hey there welcome back to accounting stuff I'm James and in today's video we're going to cover the income statement also known as the profit and loss statement or the P&L for short this is one of the three major financial statements in accounting along with a balance sheet and the cash flow statement collectively these reports give us an impression of the business's financial health so it's important that we understand how they work I've already made videos covering the balance sheet and the cash flow statement which you can find linked up here and down below in the description but up until now I haven't posted a video yet on the income statement and I've received a lot of requests from you guys to cover this topic so thanks for all these particularly from one subscriber so Nili if you're watching this video goes out to you good...
