statement

Understanding your Statement of Cashflows

Understanding your Statement of Cashflows

By Theresa Allery|2023-07-03T16:29:58+10:00July 3rd, 2023|Accountant Life, Business, Companies|

The statement of cash flows, (also known as the cash flow statement), shows how your business has generated and used cash (and cash equivalents) within a specific time period. For each of the reporting categories, receipts and payments are listed (money in and money out), and this is reported as a net increase or

Understanding your Profit and Loss Statement

Understanding your Profit and Loss Statement

By Theresa Allery|2023-07-03T16:21:57+10:00July 3rd, 2023|Accountant Life, Business, Companies|

Your profit and loss statement (P&L) helps you understand your business performance and profitability over time. It’s sometimes called an Income statement and its main purpose is to list income and expenditure. Whereas a balance sheet is a snapshot in time, the P&L shows transactions over a specific period of time. This can be