The income statement may also be called statement of cash flow or funds flow statement. is a financial statement that measures the financial performance of a company over a specific period of time indicating how the revenue is transformed into net income.

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The income statement is a financial statement that shows a company's revenues and expenses over a specific period of time, leading to net income or loss. It is different from the statement of cash flows or funds flow statement, which shows the inflows and outflows of cash, indicating how cash is generated and used during a period.

The Income Statement May Also Be Called Statement of Cash