A profit and loss statement summarizes a business’s revenue and expenses. Learn how to use a profit and loss statement to understand your business better.

Editor’s Note: This post is focused on helping you understand profit and loss statements. This financial statement is used by most small business owners to help assess business profits and losses ...

The provision for income taxes on an income statement is the amount of income taxes a company estimates it will pay in a given year. The company's final tax bill may be slightly more or less than the ...