Management Accounting Income Statements provide an overview of a business’ financial activities. This statement generally outlines sources of income and expenses that the company earned or incurred over a set period of time. It helps management make more informed decisions about the allocation of resources, growth strategies, and overall performance. By understanding what transactions resulted in either increased or decreased income and expenses, management can gain insight into how their current operations are affecting the business financially. Knowing this information helps them plan for future success. Management Accounting Income Statements enable organizations to have a comprehensive picture of their financial position, so they can capitalize on opportunities and make sound decisions going forward.