This is the final part of the profit and loss account. If the net profit figure is negative, the business has made a loss.

Also referred to as a profit and loss statement. By combining these elements, the income statement illustrates just how much income your company makes or loses during the year by subtracting cost ...

Let's prepare a profit and loss statement using the sales forecast developed earlier. The sales figures will give us our "top line", i.e. the total revenue (or "Gross Revenue") that we might be able ...

Can an accountant do a profit and loss statement? A certified income statement requires the services of a certified public accountant. Financial statements are certified by a CPA who examines them, ...