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hey badass business owners whether you have a small business or youre thinking of starting a small business it is mission critical that you understand your business numbers you dont just want to create a job you want to build a future where the skys the limit on the potential profit that you can earn in your business and you do this by understanding your business numbers and one of the best places to go to start learning your business numbers is your profit and loss income statement so in this video were going to take a look at the basics of understanding what this document is trying to tell you now your profit and loss statement is also known as an income statement so sometimes youll hear it called a p l or youll hear it called a profit and loss or a profit and loss income statement or just an income statement all of those terms are all referring to the exact same document and it gives you a quick snapshot of your business because its going to break everything down into sales c
