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Keep The Record of company ability
P&L statement as a statement of profit and loss, income statement, statement of operations, statement of financial results or income, earnings statement or expense statement.a financial statement that summarizes the revenues, costs and expenses incurred during a specified period, usually a fiscal quarter or year.
Collection of Financial Accounts.
Records classified and summarized financial information from journals (the ‘books of first entry’) as debits and credits, and shows their current balances. In manual accounting systems, a ledger is usually a loose leaf binder with a separate page for each ledger account.
Keep Statement of All Debits and Credits
A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account column totals that are equal. A company prepares a trial balance periodically, usually at the end of every reporting period.