A profit and loss statement, or income statement, is a financial document commonly prepared by a business to reflect the profitability of the business during a specific period of time. For example, a ...

Editor’s Note: This post is focused on helping you understand profit and loss statements. This financial statement is used by most small business owners to help assess business profits and losses ...

Managing your business effectively means understanding the overall function of your general ledger and financial reporting. If you sell products, your profit margins are a key factor in determining ...

What Is a Profit and Loss (P&L) Statement? Your email has been sent Learn how profit and loss (P&L) statements are used and why they are important for businesses in this comprehensive guide. A profit ...

At some point, you’ve probably heard the phrase, “It takes money to make money.” But if you’re not careful, it’s easy for expenses to spiral out of control — and you could end up making little to no ...

Every company produces three important financial reporting documents when the fiscal period comes to a close: the balance sheet, cash flow statement, and the profit and loss statement. Among these, ...