Accounting 101: Elements of Financial Performance – Income and Expense

Originally published at: Accounting 101: Elements of Financial Performance – Income and Expense | TheAccSense

In this round of the Accounting 101 series, we will discuss the two elements of financial performance, which are income and expenses. The financial performance of an entity is measured by the performance of its income and expenses and this performance is presented or disclosed in the statement of profit or loss and other comprehensive…