Post by MS INYOFU (@theconscience)

ACCOUNTING HINT (STATEMENT OF INCOME & EXPENDITURE)

Shows: Profit or loss for the period

Components:
Income (Sales, Fees)
Direct Costs (COGS)
Expenses (Rent, Salaries, Utilities)

Why: Tells you if the business is performing well or losing money

Do you track income and expenses by category?

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