This A level Business revision video explain what an Income Statement is as well as looking at the calculations of the components of an income statement. Income statements (sometimes referred to a sProfit & Loss Accounts) is a topic on the A level syllabus for Edexcel, Aqa, OCR, CIE and Eduqas.

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DISCLAIMER: Be sure to consult the exam board specification of the qualification you are studying to discover what you are expected to know for your syllabus.