Balance Sheet vs. Profit and Loss Statement: What is the Difference?

Author: External Author | | Categories: Bookkeeping Services , Income Tax Preparation , Medium Business Taxes , Payroll Services

The balance sheet and the profit and loss (P&L) statement are two of the three financial statements companies issue regularly. Such statements provide an ongoing record of a company's financial condition and are used by creditors, market analysts and investors to evaluate a company's financial soundness and growth potential. The third financial statement is called the cash-flow statement.

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Original Article Source Credits:   Investopedia ,

Article Written By:  SEAN ROSS

Original Article Posted on:  Jun 12, 2020

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