Profit and Loss Statement: Why Is It Important for Your Business
Profit and Loss Statement: Why Is It Important for Your Business Starting a business and running it successfully is challenging. And one of the most challenging areas is accounting. So, if you are a new business owner hopelessly staring on your first profit-loss statement (P&L), then you are not alone. For business owners who do not have solid background in Accounting, understanding the profit and loss statement can be pretty difficult. In fact, a lot of small businesses make the humongous mistake of not maintaining the P&L record in their