Chapter survival toolkit
Overview
You will be happy to know that the hard work has been done and this chapter should be very straightforward. It takes the revenue and spending discussed in the previous chapters, introduces a few new categories of spending and receipts, and brings them all together in the profit and loss account (or income statement). This shows the bottom line for the business, or, perhaps, the bottom lines since, believe it or not, there is more than one.
The profit and loss account is one of three key financial statements. The other two are the balance sheet and cash flow statement, which are covered in the next two chapters. Some introductory analysis and interpretation are discussed in this chapter, but the real secret ...
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