Are income statements additive over time?

[777888]

Are income statements additive over time? For example, is it correct to simply add up the Q1 to Q4 income statements to get the annual income statement?

What I'm thinking is that the profit (or net income) on the Q1 income statement cover a different period than the profit (or net income on the Q4 income statement. Do we need to take into account the time value of money when adding up the profits?

Any thoughts would be appreciated!

 

[Mister Batman]

Q1+Q2+Q3+Q4 equals fiscal year income statements. You do NOT take into consideration the time value of money when adding up income for GAAP reports.

 

[777888]

Q1+Q2+Q3+Q4 equals fiscal year income statements. You do NOT take into consideration the time value of money when adding up income for GAAP reports.

Thanks! But why don't we take into consideration the time value of money when adding up the income statements over multiple periods?

 

[Fidget]

The value of money doesn't change enough in a 12 month period to warrant taking it down to a monthly level.