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Income Statement Format by Nature of Expense

Income Statement Format by Nature of Expense

The expenses in an income statement are either classified by their nature or by their function.

An income statement by nature method is the one in which expenses are disclosed according to their nature such as office rental, salary expense, Office supply expense, depreciation depreciation etc.
There is no reallocation of these expenses to different functions of the company or organization such as cost of goods sold, marketing costs, administrative costs and other expenses.

Below is example of  income statement format by nature.

Company ABC
Income Statement
For the Year Ended December 31, 2015
Sales           200,000
Expenses:
Beginning Inventory                    20,000
Purchases                  100,000
Ending Inventory                  (80,000)
Depreciation Expense                    14,000
Office Rent Expense                    15,000
Salaries Expense                    30,000
Office Supplies Expense                      3,000
Utilities Expense                      7,000
Interest Expense                         700
Income Tax Expense                    20,000
Total Expenses       (129,700)
Net Income           70,300
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