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Learn what a profit and loss statement is, how to read one, what it is useful for, and how to create a profit and loss statement in Excel. The video includes a profit and loss template and examples. Next Video: • Learn Management Accounting: Part 4 -... Tutorial Outline: 0:00 Episode Start 1:47 What is a Profit and Loss Statement 3:38 Profit and Loss Example 4:34 Cost of Sales Explained 6:59 Gross Profit Explained 8:12 Net Profit Explained 8:34 How to Create a P&L Statement #accounting #profitandloss #finance #bookkeeping #managementaccounting 30-day FREE trial for Sage Business Cloud Accounting - http://sage.qumg.net/AVy3J - NO card needed Free Bookkeeping and Accounting Course - https://bit.ly/2QuawOi The ULTIMATE bookkeeping and accounting course - https://bit.ly/3SBbwkJ Learn Sage: https://bit.ly/3fry3BG Learn QuickBooks: https://bit.ly/3y19MbU Learn Xero: https://bit.ly/2U5PsA9 The Bookkeeping Master is dedicated to free bookkeeping and accounting content. Our videos cover basic and advanced accounting principles, accounting software tutorials, and various accounting and finance courses. Learn more and take our free lessons at: https://www.freebookkeepingaccounting...