The profit and loss statement (PL) of a business reflects the business’s sales and expenses over a specified period of time. All sources of revenue and all business expenses are considered to determine what the net profit of the business is during a measured period of time. The profit and loss statement is considered to […]
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Simple Profit and Loss Form
What is a profit and loss account? The profit and loss account (pl) is usually presented as a statement and it shows the trading activity and associated expenditure of an organisation over a defined period of time. A typical pl will contain the following: Sales This is the turnover of the business, the main source […]