Preparing and Reviewing Income Statement

Monitor Your Business Income – The Accurate Way!

Accounting services at Avicenna include preparing and reviewing your Income statements for a specified period of time. This way, you can keep track of your entire finances and increase your business productivity with the results achieved.

Why Prepare Your Income Statement With Us?

Is your business making money? Our carefully reviewed profits and loss statements are a valuable tool to monitor your financial growth, as well as allow outsiders to evaluate your ability and choose your business to partner with.

We prepare your income statement on the defined patterns of IRS and save you from any possible penalties or losses. Income statement is perhaps the only statement required by IRS to evaluate taxes on profits earned, and you must let the professional at Avicenna do it for you.

By choosing our accounting services income statement review preparation, you’ll be effectively able to analyze your profits, estimate income taxes payable and manage funding for business growth. At Avicenna, we follow three basic steps to prepare you income statement.

• Estimate your Total Revenues for a particular period of time reported. This may also be termed as your “Gross Profit”, as to what is left over after the Cost of Goods Sold (COGS) is subtracted from Net Sales.


• Next, we enlist your “Total Expenses” incurred, which includes all your business operating costs.  Expenses normally include wages, rents, utilities, insurance, supplies and other miscellaneous expenses.


• Finally, we calculate your net income which is your profit after all business expenses have been accounted for.

This is just a simple single-step basic format we use. We are fully capable of handling your more complex income statement preparation, where several pieces of information are tied to the income statement. This may include Cost of Goods Sold, Operational & Non-Operational Costs, and Income Taxes etc.