#incomestatement You may be wondering, what is an income statement? Or how do I read an income statement? If so, this video is for you because as a #CFO, I will teach you how to interpret the key components of this core financial statement so you can feel more confident as a business owner, manager, investor, or individual when dealing with numbers. The income statement, also known as the profit and loss, is one of the three major financial statements that reports a company’s financial performance over a specific accounting period. The income statement is divided into 4 major components: revenue, cost of goods sold, SG&A (selling, general, and administrative expenses), and profit/loss. It’s a helpful statement because it will show you a company’s sales, cost structure, and whether the business is making a profit or loss. Here are some other great resources to help you boost your financial literacy skills and to become more confident with numbers. Go to https://www.byfiq.com/ to learn more.

Podcast episodes:
Understanding the Income Statement https://podcast.byfiq.com/1382737/575...

Unlocking the Potential of the Income Statement https://podcast.byfiq.com/1382737/962...

Courses:
Boosting Your Financial IQ https://courses.byfiq.com/offers/wKzc...

Understanding Financial Statements https://courses.byfiq.com/offers/YQeF... #incomestatement #financialliteracy #financialiq #BYFIQ #stevecoughran