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income statement
(redirected from Statement of Financial Performance)

   Also found in: Financial, Wikipedia 0.01 sec.

income statement

In accounting, the activity-oriented financial statement issued by businesses. Covering a specified time, such as three months or one year, the income statement is a summary of revenues and expenses. It also lists gains and losses from other transactions, such as the sale of assets or the repayment of debt. Standard accounting rules govern the procedures for recording each item.



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133 to entities that do not report earnings as a separate caption in a statement of financial performance (for example, a not-for-profit organization) is described in paragraph 43 of that Statement.
An entity that does not report earnings as a separate caption in a statement of financial performance (for example, a not-for-profit organization or a defined benefit pension plan) shall recognize the gain or loss on a hedging instrument and a nonhedging derivative instrument as a change in net assets in the period of change unless the hedging instrument is designated as a hedge of the foreign currency exposure of a net investment in a foreign operation.
The Statement of Financial Performance, Statement of Financial Position, Statement of Cash Flows and Supplemental Financial Data for the three and six months ended December 31st are attached.
 
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