A Profit and Loss Statement, also known as an income statement, provides a comprehensive summary of a company's financial results here over a specific duration. By analyzing this report, investors and analysts can gain insight into the company's profitability, … Read More

Profit and loss are essential concepts in business that illustrate the financial performance of a company. Profit occurs when revenue exceeds expenses, meaning the company generated more money than it spent. Conversely, loss arises when expenses outweigh revenue, indicating the company spent more than it earned. Tracking profit and loss is cruci… Read More