how to prepare losses account?
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Profit and Loss Account is a period statement which is prepared to show the profit or loss incurred by the Organization in the year for which it is prepared. It is prepared to disclose the result of operations of all the business transactions during a given period of time. It is also known as profitability statement
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Hello friend!
>Choose a time frame. ...
>List your business revenue for the time period, >breaking the totals down by month. ...
>Calculate your expenses. ...
>Determine your gross profit by subtracting your direct costs from your revenue.
>Figure out if you're making money.
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