The income statement is a function of the general ledger system providing a profit and loss statement summarizing the revenues (money in) and expenses (money out) from a company during a defined period of time. It indicates generally if the company was profitable and their relative impact on the bottom line (overall financial health) of the organization. The income statement is based on a period of time differentiating it from the balance sheet which represents a single moment in time.
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The COVID-19 pandemic outbreak has brought forth some unusual happenings across the globe, including the unexpected shutdown of many businesses to slow its spread. With physical locations closed throughout the lockdown, many non-essential businesses are scrambling to implement remote-working policies and to keep operations running to support their customers and staff. The transition to working
As the world continues to respond to the effect of the COVID-19 pandemic, more organizations have established remote working protocols to slow the spread and promote our safe recovery. As a result, an increasing number of businesses are choosing software-as-a-service (SaaS) solutions for financial management and the security of their business data. SaaS refers to