But they also provide a tidy excuse to the financial community for GM's miserable performance, both on dealer lots and on income statements.

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The Marlins and Pirates have mastered the art of winning on the income statements and balance sheets while actually losing on the diamond.

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Many large companies are already taking charges against their outstanding options on their income statements.

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Other companies may follow suit by formally accounting for stock options on their income statements.

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As you will see there can be large differences between what tax rates are on their income statements vs. what they pay in cash.

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You see that income tax expense on the financial statements is not what is on the returns.

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He says some would white out income numbers on W2s and bank statements and fill in bigger amounts basically to qualify people for loans that they couldn't afford.

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These gave banks more freedom to use models to value illiquid assets and more flexibility in recognising losses on long-term assets in their income statements.

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Income statements can give you a heads-up on how management is performing.

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The fund managers study income reports and cash-flow statements for various companies to establish views on earnings multiples.

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