The Income Statement is one of the big three financial statements, which every entrepreneur should understand. In this Deep Dive, Food Finance Institute Farm Outreach Specialist, Andy Larson walks you through what an income statement is, how to use it, and how it is different for farms versus non-farm businesses. Access to templates is also included with the course.
Main Topics Covered Include:
- What an income statement is, in a nutshell
- What are the three big financial statements?
- Essential terminology
- Reviewing the income statement in detail, using examples
- Considerations for success
- How a farm income statement differs from a non-farm enterprise income statement