Profit and Loss Statement

What is the Profit and Loss Statement?

This Profit and Loss statement details the revenues earned by the business and the expenses that the business has incurred in earning that revenue. However other names for the same statement are the Income Statement or the Statement of Financial Performance.

Either a profit (+) or a loss (-) is the result.

This infographic describes how to calculate the profit or loss.

Income Statement or Profit and Loss statement

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Jan'18

What is the Income Statement?

What is the Income Statement? The Income Statement is also called the Profit and Loss Statement or the Statement of Financial Performance. This statement details the revenues earned by the business and the expenses incurred in earning that revenue. This is because it is important to correctly match revenues and …

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