What is another name for the statement of revenue and expenses?

The statement of revenue and expenses is commonly referred to by various names in financial and accounting contexts. Each of the terms mentioned serves to highlight different aspects of the same fundamental report that details an organization’s financial performance over a specified period.

The "profit and loss statement" is a widely recognized term that emphasizes the primary purpose of the report: to show the profit (or loss) by subtracting expenses from revenues. This label is often used in both business and non-profit sectors.

The "income statement" is another frequently used name that focuses on the income generated by the organization. This term is often preferred in corporate finance contexts, aligning with standard accounting terminology and practices.

Lastly, "statement of activities" is a term predominantly utilized by non-profit organizations but essentially serves the same purpose. It reflects the organization’s revenues and expenses in order to show its operational performance.

Since all these terms refer to the same financial document that summarizes revenues and expenses, the choice that includes them all is completely accurate, affirming the interchangeable nature of these terms in different contexts. Understanding these terms can help enhance clarity in financial reporting and communication.