A profit and loss statement summarizes a business’s revenue and expenses. Learn how to use a profit and loss statement to understand your business better.

Accumulate all expense and revenue records throughout the month and turn them into a profit-and-loss statement, also called a financial statement or a statement of earnings. Gather carrier settlement ...

Editor’s Note: This post is focused on helping you understand profit and loss statements. This financial statement is used by most small business owners to help assess business profits and losses ...