Die Heuning Pot Literature Guide
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Finance Glossary

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Over 700 finance terms, Shmooped to perfection.

Income Statement

Definition:

The infamous P&L or profit and loss statement. This shows a company's revenues, expenses and earnings. Note that these are prepared based on accounting principles, so the link between what they report and the company's "real" financial situation can be tenuous. See Enron, WorldCom, Adelphi and a host of other financial catastrophes.

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