Income Statement/Profit and Loss Account

Income Statement/Profit and Loss Account

Profit and Loss Statement is a statement which is shown all over the income and profit or loss of an organisation. Decision of stakeholders is depended on such income statement.

Profit and Loss Statement may make monthly, quarterly and annually.

Income Statement Example/Income Statement Format

 Here;

To check financial position of an organisation record sales and then less cost of sale, after this gross profit or loss will be arised. After this step in final less oprating expense to get net profit or loss.