How To Read An Income Statement (Profit & Loss / P&L)

Income statements, commonly know as profit and loss statements (P&L), are the first of the 3 main financial statements. Learning what makes up an income statement is very important in business. This video will cover the basic structure of an income statement. Specifically, what makes up an income statement and what those things mean. I will also cover a real world example of an income statement to show the different ways these statements can be presented. Regardless of how they are presented they will always follow the same structure and math. Terms like Revenue, COGS, Gross Profit, Expenses, Operating Profit, EBIT, EBITDA, Income Tax, Interest Expense, Net Income, etc. will be defined and explained. *I am not a financial advisor. This is not financial advise and should be for entertainment purposes only Comfy Office Chair: https://amzn.to/3oN9jF3 Microsoft Office: https://amzn.to/3czZiW7 Disclaimer & Full Disclosure: We are a a participant in the Amazon Associates Program, So If you purchase something from our affiliate links will get a small commission with no extra cost to you. This makes it possible for us to keep producing VIDEOS! °We NEVER collect, store, use, or have access to any data about you.