Companies prepare an income summary and an income statement at the end of an accounting period. While an income summary is a clearing account used to close income-statement accounts at the end of a ...

Ending your fiscal year with a net loss can be tough to deal with. The accounting, though, isn't any more complicated than ending on a net gain. The process of creating and then closing an Income ...

Reporting taxes, applying for a loan and making a new company budget will require you to know how much money you bring in each year. Annual income is one of the most valuable metrics for quick, ...

Portfolio income is money received from investments, dividends, interest, and capital gains. Royalties received from investment property also are considered portfolio income sources. It is one of ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Thomas J. Brock is a CFA and CPA with more ...