accounting report profit loss

TODAY.... ICE BREAKER....

Sometime you can get mentally really strong or stronger just when things get worst, you are in deep trouble but you still believe what you believe, than you realize that you achieving starts with believing.

Start to always thing positively, once you have negative mind and than you will start think;

"Even ambulance try to take advantages from me by wrote it in reverse way on the hood of the ambulance. And You thought, "Well,I can only read it by look in the rear-view mirror the word "ambulance" behind me and while I'm reading it , I cannot see where I'm going, I'm crash, I need an ambulance and they will get pay"

Ok than....lets think positively and lets continue with the second principle financial report called PROFIT LOSS Statement.

As I mention on the previous post we are on the "KNOWING EACH OTHER"phase. Not like Balance Sheet this Profit Loss Statement will give you information only about:

1. How much is your Income
2. How much is your Expenses


You will do the deduction between this Income & Expenses and finaly you end up with Net Profit or Net Loss. As simple as that.....

In MYOB you just have to identifying the transaction whether its sales (cash inflow) or expenses (cash outflow), get the information of the customer or supplier, find the item you sell or buy, verify the amount and quantity of transaction as known a measuring process in accounting and hit the record button , Thats it..... You can see the report (Profit Loss Statement)
in REALTIME........

Here is the snap shot












Check it out below the information (Profit Loss Statement)MYOB can provide on this stage:




Profit Loss Statement Graphic: