Profit and loss statement template is a financial statement which tells the overall profit or loss of the business for six month or a whole accounting year. All expenditures are added up and subtracted from total sales to get profit of the business. All expenditures or the business are settled against total net sales of the business in this statement. This profit and loss statement template is prepared before making other financial statements like income statement or balance sheet. This statement is required for some other purposes also like for applying some sort or loan or it may be shown…

An income statement template is a financial statement which is prepared by all businesses regardless of their size and nature. The time when to prepare an income statement will depend on the size of the organization. Usually it is prepared after six months or complete accounting year. Company name, title of the statement and time period is mentioned at the top of the page. This income statement template totals the incomes and expenses of that business for a specified period of time and the difference of these totals is known as income. Income before and after tax are calculated to…