Profit and loss statement is also called an income statement which is one of the components of a financial statement showing the company its earned profit or barred loss during the course of operations in the current financial year. It helps the management of making decisions . it can be retrieved monthly, quarterly and yearly. BenchStep ERP gives you all of the tools you'll need to manage your finances and investments. The profit and loss statement, as you may know, is one of the most significant reports for investment purposes; if you're unfamiliar with the word, here's a quick explanation.
The profit and loss statement, often known as the income statement, summarises a company's revenue and costs for a quarter or year. The custom dates option in BenchStep ERP, on the other hand, allows you to tailor the report's time period. The term "financial statement" is frequently abbreviated as "P&L statement." or or Income statement
It is the greatest way for investors to assess whether a company is profitable or not because it is the best way to determine whether a company is profitable or not.