January 19, 2007, Newsletter Issue #149: Income Statement

Tip of the Week

The Income Statement, also known as the Profit & Loss Statement (P&L) is the statement of net profit or loss in a specific accounting period. Often run monthly, quarterly, and annually to show net profit or loss for a particular month, quarter, or year. Often compared to prior months, quarters, or years to gauge progress or decline of business. Also used as a guide for budgeting future months, quarters, and years.

About LifeTips

Now one of the top on-line publishers in the world, LifeTips offers tips to millions of monthly visitors. Our mission mission is to make your life smarter, better, faster and wiser. Expert writers earn dough for what they know. And exclusive sponsors in each niche topic help us make-it-all happen.

Not finding the advice and tips you need on this Small Businesses Tip Site? Request a Tip Now!

Guru Spotlight
Sheri Ann Richerson