What is the difference between a profit?
Profit and Loss Statement is a statement that shows the overall gain/loss that a company or organization has earned during the financial year. It reflects the cost and revenue part of business transactions and how these cost are affecting tje decision making of the business. This help in understanding the profitability of an organisation. Fund Flow statement is a statement that explains the various sources and application of money or funds generated by the company in a given period of time. It involves understanding of the transactions that take place during the and explains the correct utility of these funds in the organisation. This help in understanding the Sources and Utilization of Money.