The Smithsonian Institution, in collaboration with the University of Texas at El Paso and Second Life, have created a Smithsonian Latino Virtual Museum and accompanying multimedia e-book: DÃ­a de los Muertos: Day of the Dead.
statement of earnings noun [C]. âº ACCOUNTING, FINANCE an âofficial âdocument that is âpart of a company's âfinancial âresults and gives details of its âprofit or âloss for a particular âperiod: During the âboom âyears, âcompanies put out exaggerated âstatements of âearnings.
Purpose of the Income Statement. The purpose of the income statement is to provide the financial earnings performance of the entity over a specific period of time. It is also referred to as a profit and loss statement or earnings statement.ncome Statement Format and Components. The Income Statement shows the revenues, expenses, and profits (or losses) of an entity over a specified period of time. In other words, it is a description of the entities profitability over a period of time (usually quarterly or annually).