Scott Ledger

Posts Tagged ‘Income Statement’

profit and loss, balance, balance – what do they all?

A statement of profit and loss (P & L) is a summary of all income and expenses of an enterprise during a period of time’ After a period of loss or gain of the company is calculated by subtracting the total cost of the total revenue’ The peri…

The balance of accounts

Where appropriate to balance the account, both parties joined, and if the total of both sides are not equal, the difference is then placed on the side with less total’ Will be two equal parts’ The added amount of the difference is known as “balance” account’ In the co…