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The income statement is a report showing the profit or loss for a business during a period, as well as the incomes and expenses that resulted in this overall profit or loss. The Cash Flow Statement, or Statement of Cash Flows, summarizes a company's inflow and outflow of cash, meaning where a business's money came from (cash receipts) and where it went (cash paid). A profit and loss statement is a financial statement that is prepared for a business.
The P&L statement shows a company's ability to generate sales, manage.
Not surprisingly, the income statement is also known as the profit and loss statement.
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Use Our Outline to Create Your Own Profit and Loss Statement - Print Instantly! P&L's can be used to monitor an organization's revenue growth rate, or to make decisions with respect to cutting the costs, raising investments, applying for a loan, or assessing the. What is a Profit and Loss (P&L) Statement?