Difference between income statement and statement of cash flows

Definitions and meanings Income statement: The income statement reflects a company’s revenue and total expenses. These include non-cash items such as depreciation and amortization over a given accounting period. The income statement, which is made up of operating and non-operating activities, determines the performance of a company i.e. profits generated and owner’s equity. The entries … Read moreDifference between income statement and statement of cash flows