profit&loss

finance accounting is types of accounting three types of accounting. the errors  accounts and ratio account and cost accounting , varible cost. rules of accounting trading and profit and loss and balance sheet. journal entires and genral principle.The profit and loss statement is a summary of the financial performance of a business over time (monthly, quarterly or annually is most common). It reflects the past performance of the business and is the report most often used by small business owners to track how their business is performing.

As the name indicates the profit and loss statement (also known as a statement of financial performance or an income statement) measures the profit or loss of a business over a specified period. A profit and loss statement summarises the income for a period and subtracts the expenses incurred for the same period to calculate the profit or loss for the business.