income = revenues - Expenses

The income statement focuses on four key items

An income statement is one of the three important financial statements used for reporting a company’s financial performance over a specific accounting period. The other two key statements are the balance sheet and the cash flow statement

The financial manager needs to keep three things

Taxes are mandatory contributions levied on individuals or corporations by a government entity—whether local, regional, or national

1-Income tax

2- Payroll tax

3- Corporate tax

4- Sales tax

5- Property tax

6- Tariff

7- Estate tax

cash flow from assets = Cash flow to creditors + Cash flow to stockholders

is just money spent on fixed assets less money received from the sale of fixed assets

The term balance sheet refers to a financial statement that reports a company's assets, liabilities, and shareholder equity at a specific point in time.