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Profit and Loss

N.B.

Also referred to as a Profit and Loss Statement or an Income and Expense Statement statement.

This text refers to an Income Statement as a Profit or Loss Statement. 

Contents:

• Overview
• Example of a Profit or Loss Statement 
• Sales and Income
• Gross Profit on Sales
• Cost of goods sold
• Operating Expenses inc depreciation
• Net Profit or Loss – “The bottom line”
• Retained Earnings

• Balance Sheet
• Providing Credit
• Bank Finance
• Finance Terminology
• Money In - Money Out
• Record Keeping
• Profit and Loss

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