Question

Conclusion of profit and loss

Answer 1

it is always a struggle to get entrepreneurs to do administration as most of them fly by the seat of their pants. If you wish to be successful and is not one of those few geniuses that can see the profit or loss without doing any calculations, you have to force yourself to record at least the income and expense information and use it as explained above.

Knowing which projects are making profit and which are loosing income and then taking the necessary action to rectify it is an integral part of becoming financially independent.