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The Annual Operating Statements: The Income Statement and Cash Flow Statement

In: Quantitative Corporate Finance

Author

Listed:
  • John B. Guerard Jr.

    (McKinley Capital Management, LLC)

  • Anureet Saxena

    (McKinley Capital Mgmt, LLC)

  • Mustafa N. Gültekin

    (University of North Carolina Chapel Hill)

Abstract

The balance sheet of a company and the income statement are related. The balance sheet is an accounting snapshot at a point in time. The income, profit and loss, or operating statement is a condensation of the firm’s operating experiences over a given period of time. It depicts certain changes that have occurred between the last balance sheet and the present one. The balance sheet (position statement) and the income statement may be reconciled through the retained earnings, or earned surplus, account. If this reconciliation is presented formally, it becomes the surplus statement.

Suggested Citation

  • John B. Guerard Jr. & Anureet Saxena & Mustafa N. Gültekin, 2022. "The Annual Operating Statements: The Income Statement and Cash Flow Statement," Springer Books, in: Quantitative Corporate Finance, edition 3, chapter 0, pages 55-75, Springer.
    • Handle: RePEc:spr:sprchp:978-3-030-87269-4_4
    DOI: 10.1007/978-3-030-87269-4_4
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