profit and loss statement

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Beware of These Fraudulent Payroll Schemes

By |October 15th, 2019|Payroll Fraud|

According to recent information published by the Association of Certified Fraud Examiners (ACFE), payroll fraud occurs in approximately 30 percent of American businesses each year. Around half of the payroll fraud victims are small businesses that cannot afford such a loss. ACFE also states that the typical business in the United States loses five percent [...]

Understanding a Profit and Loss Statement is Essential to Keep Track of Net Income

By |June 27th, 2019|Small Business Accounting|

  A profit and loss statement is one of several documents businesses produce to demonstrate the financial health of a company. Typically created quarterly or annually, this statement shows how much revenue a business took in during the reporting period, as well as its expenses and net income. Profit and loss statements can be incredibly [...]

The Income Statement: An Essential Tool for Tracking Business Profitability

By |May 31st, 2019|Small Business Accounting|

Your company's income statement is also sometimes called the "profit and loss statement." This is one of the three primary financial reports that you should complete and review regularly to ensure that your company's financial health is up to par. The other financial statements that should be on your list include the statement of cash [...]

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