Profit and Loss Statement: A Guide for Small Business Owners
Fundera
MAY 12, 2019
What Is a Profit and Loss Statement? A profit and loss statement, also called an income statement, shows a business’s revenue, expenses, and net income over a specific period of time. It’s usually assessed quarterly and at the end of a business’s accounting year. Business owners use profit and loss statements to determine whether they should improve the bottom line by increasing revenues, cutting costs, or both.
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