____________________
profit
and
loss
account
shows
____________________
results
of
____________________
company's
trading
over
____________________
last
financial
period
(
i
.
e
.
____________________
period
between
two
balance
sheets
)
.
Usually
this
means
____________________
year
,
although
____________________
year
end
date
can
be
chosen
by
____________________
company
.
December
31
and
March
31
are
popular
,
although
it
could
be
April
1
or
November
5
etc
.
____________________
profit
and
loss
account
shows
____________________
effect
on
____________________
company's
revenue
account
of
all
____________________
transactions
over
____________________
past
year
.
____________________
profit
and
loss
account
measures
____________________
profit
or
loss
made
on
____________________
goods
or
services
sold
during
the
period
.
It
does
not
measure
____________________
cash
flows
into
and
out
of
____________________
business
.
This
is
____________________
essential
difference
.
Cash
flow
is
____________________
vital
part
of
____________________
financial
management
of
____________________
business
and
is
not
dealt
with
here
.
To
manage
____________________
business
both
profit
and
cash
must
be
considered
.
Source
:
Times100
Business
Case
Studie
s
