The Income statement reference article from the English Wikipedia on 24-Apr-2004 (provided by Fixed Reference: snapshots of Wikipedia from wikipedia.org)

Income statement

Elements of the income statement are net income results from revenue, expense, gain, and loss transactions.

Revenues - Inflows or other enhancements of assets of an entity or settlements of its liabilities during a period from delivering or producing goods, rendering services, or other activities that constitute the entity's ongoing major or central operations.

Expenses - Outflows or other using-up of assets or incurrences of liabilities during a period from delivering or producing goods, rendering services, or carrying out other activities that constitue the entity's ongoing major or central operations.

Gains - Increases in equity (net assets) from peripheral or incidental transactions of an entity except those that result from revenues or investments by owners.

Losses - Decreases in equity (net assets) from peripheral or incedental transactions of an entity except those that result from expenses or distributions to owners.

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