FINANCIAL STATEMENTS

Prepare Income Statement and Statement of Financial

Income Statement and Statement of Financial Position

Profit and loss statement

The Profit and Loss Account is an accounting document whose utility is to determine the economic outcome of the exercise, which is obtained by difference between two bodies formed respectively by the Revenues and Benefits on the one hand and the costs and losses on the other. Income or benefits will be operations or results of operations that cause an increase the equity of the company. By contrast, expenses or losses will be operations or results of operations resulting in a decrease in ...