Income statement new name

The income statement is also commonly referred to by several other names, including:

  1. Profit and Loss Statement (P&L): This name emphasizes the statement's focus on the company's profitability and losses.
  2. Statement of Earnings: This name highlights the statement's focus on the company's earnings or profits.
  3. Statement of Income: This name is similar to the income statement, but it's a bit more straightforward and to the point.
  4. Statement of Operations: This name emphasizes the statement's focus on the company's operational performance and the income generated from its operations.
  5. Statement of Financial Performance: This name is a bit more comprehensive, as it includes not only income but also expenses, profits, and losses.

In some countries or industries, the income statement may be referred to by different names, such as:

  1. Balance Sheet (in some European countries)
  2. Trading Statement (in the UK)
  3. Statement of Financial Position (in some countries)
  4. Statement of Comprehensive Income (in some countries)

It's worth noting that while these names may vary, the purpose and content of the income statement remain the same: to provide a snapshot of a company's financial performance over a specific period of time.