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When would we call the Income Statement the Statement ofOperations and when would we...

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Accounting

When would we call the Income Statement the Statement ofOperations and when would we call the Balance Sheet the Statementof Financial Position?

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Basically Statement of operation is referred mainly in US markets whereas in other markets Statement of operations is often termed as income statement Apart from the Semantics    See Answer
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In: AccountingWhen would we call the Income Statement the Statement ofOperations and when would we call...When would we call the Income Statement the Statement ofOperations and when would we call the Balance Sheet the Statementof Financial Position?

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