Why does my Accountant tell me have made a profit when i have no money in the bank? Profit vs CASH-FLOW
As an Accountant, we present different financial reports for different purposes. To start with let’s look at what is Profit and Loss in accounting terms. Profit is a financial gain, especially the difference between the amount earned(Sales) and the amount spent(expenses) in buying, operating, or producing something. Loss is when expenses exceed the income or total revenue or sales I believe you have heard …
