A
profit
and
____________________
account
shows
the
____________________
of
a
company's
____________________
over
the
last
financial
____________________
(
i
.
e
.
the
period
between
two
____________________
sheets
)
.
Usually
this
means
a
year
,
although
the
year
____________________
date
can
be
chosen
by
the
company
.
December
31
and
March
31
are
popular
,
although
it
could
be
April
1
or
November
5
etc
.
The
profit
and
loss
account
shows
the
effect
on
the
company's
____________________
account
of
all
the
____________________
over
the
past
year
.
The
____________________
and
loss
account
____________________
the
profit
or
loss
____________________
on
the
____________________
or
____________________
sold
during
the
____________________
.
It
does
not
____________________
the
cash
____________________
into
and
out
of
the
business
.
This
is
an
essential
difference
.
Cash
flow
is
a
____________________
part
of
the
____________________
management
of
the
____________________
and
is
not
dealt
with
here
.
To
____________________
a
business
both
profit
and
cash
must
be
considered
.
