Profit and loss appropriation accounts are necessary for businesses, especially partnerships, because they help account for the expenditures and income that are included in profit and loss statements.

A profit and loss statement, or income statement, is a financial document commonly prepared by a business to reflect the profitability of the business during a specific period of time. For example, a ...

Laura Pomfret has a handy budget template to help manage your finances, like a 'profit and loss' account. Here is the budget ...