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What is statement of profit or loss?
A statement of profit and loss is the business income and expense statement which sumarises the total income and expenses coming to the total profit (or loss) of the business which is the defference between the income and expenses.
What are the example for Finance cost in profit and loss account or income statement?
Interest on Loan
What are the Advantages of a profit and loss statement?
what are the advantages of profit and loss statement?
Where can I find a profit loss statement?
A profit loss statement is a statement that summarizes costs, expenses, and revenues. Microsoft office has a downloadable profit loss statement template. The link to this template is http://office.microsoft.com/en-us/templates/profit-and-loss-statement-TC001115484.aspx
What statement have selling expense?
Profit and Loss Statement
What is another name for profit and loss statement?
income statement
What does the Profit and Loss statement indicates?
The statement of profit and loss follows a general format that begins with an entry for revenue and subtracts from revenue the costs of running the business, including cost of goods sold, operating expenses, tax expense and interest expense. The bottom line (literally and figuratively) is net income (profit).
What is the business definition for profit loss statement?
The business definition of the profit loss statement is a financial statement that explains your costs, expenses and revenues in a specific time period.
Why kind of statement is also known as a profit or loss statement?
A profit or loss statement is also known as an income statement. This financial statement summarizes a company's revenues, costs, and expenses over a specific period, providing insight into its financial performance. It indicates whether the company has made a profit or incurred a loss during that period.
In a limited partnership what is profit and loss interest?
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Where can someone get a profit and loss statement?
A profit and loss statement is a summary of how a much money a business has made over a period of time. If one has a very small business, it is possible to create one's own profit and loss statement using software, and one must send this in with the business' tax return. However, the larger the business, the more likely it is that an accountant or bookkeeper will need to create the profit and loss statement.
What is a profit and loss approach?
There is no "Profit and loss account". There is a profit and loss statement, the income statement. The income statement is closed out to Retained Earnings (shown on the balance sheet), so I guess you might consider that Profit and Loss account. Retained earnings shows the resulting effect of how the company has done over a period of time. If the retained earnings value is positve, then you've been having more profitable years than loss years. If the retained earnings is negative, then you;ve had more losses that profits.
