Profit loss account statement - analysis format, A company's profit and loss account details the sales, costs and profits in an accounting period and makes up accounts submitted for tax purposes.. Understanding profit loss account balance, Understanding your profit and loss account and balance sheet your profit and loss statement ensures you know where you’re making and spending money, key information. Example profit loss account - trading account, A profit and loss account is a summary of sales less expenses of your business which provide the profit you have made..

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