Profit and loss statement a single layer will isolate showing revenues and expenses, and then bring all income less expenses all at once. The net gain or loss as shown in the last line. The advantages of this method is easy.
Income statement as a separate class of income and expenses. Then put all revenue minus all costs ever. Show a profit or loss in the last line. The advantage of this method is simple But perhaps we might want to look at the profitability of the Company otherwise than profit alone.
Single statements to separate show revenues and expenses. And then we'll bring total income and expenses all at once. Show a profit or loss in the last line. The advantages of this method is simple. .