The Income Statement (Profit and Loss)
Understanding the income statement (sometimes we refer to this as the profit and loss statement) is the one common theme among most entrepreneurs. We all are interested in improving the bottom line. The first steps to doing so are to learn the fundamentals of what goes into making up a properly formatted income statement. The following section describes the income statement in progressively more detailed fashion as you work through the best practices materials. You will find articles and detailed templates to support the discussion along with video explanations of all the areas in the income statement.