Enterprise glossary and term center

Research and understand all the intricate terms and definitions that surround the ecosystem of enterprise resource planning (ERP), enterprise software and no-code tools.

Income Statement - How is an income statement used?

What are income statements used for? You use an income statement to track revenues and expenses so that you can determine the operating performance of your business over a period of time. ... Income statements can also track dramatic increases in product returns or cost of goods sold as a percentage of sales.