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In this tutorial, the focus is on creating a profit and loss statement from raw data. The presenter advises beginning by identifying income and expenses, highlighting one source of income and categorizing the others as expenses. The recommended approach is to list the income and subtract all expenses to calculate profit. Traditionally, cost of goods sold is deducted first before calculating other expenses. The tutorial emphasizes this method while also noting that a simplified version can be used if detailed analysis is not required. The session begins with a blank tab in preparation for building the statement.
