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Profit & Loss Statement

A Profit & Loss Statement (P&L) is a financial statement that summarizes a company’s revenue and expenses for a specific period of time. The P&L statement is also known as an income statement, statement of operations, or statement of earnings. It is one of the most important financial statements for any business as it provides

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What is bookkeeping

Bookkeeping is the process of recording, organizing, and tracking a business’s financial transactions. It involves keeping track of all money coming in and going out of the business, including revenue, expenses, and other financial transactions. The purpose of bookkeeping is to create accurate and up-to-date financial records that can be used for tax and accounting

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