O'Reilly logo

The Complete Idiot's Guide® To Accounting by Lita Epstein, Shellie L. Moore

Stay ahead with the world's most comprehensive technology and business learning platform.

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, tutorials, and more.

Start Free Trial

No credit card required

Chapter 22
Getting the Good and Bad News
In This Chapter
• Knowing your numbers
• Judging results
• Picking out problems
• Making a statement
We already know how much profit our make-believe company made when we finished the trial balance. We confirmed its accuracy when all the numbers balanced on the balance sheet.
Now it’s time to take a closer look at how we got to that profit. The profit and loss (P&L) statement takes you behind the scenes of the balance sheet to give you a more detailed view of your daily business operations. By developing and analyzing your company’s P&L statement, you will have a snapshot that can help you assess how well your company is doing and quickly find areas that need attention to improve your company’s profitability. ...

With Safari, you learn the way you learn best. Get unlimited access to videos, live online training, learning paths, books, interactive tutorials, and more.

Start Free Trial

No credit card required