Write-off reduces recognized value of assets or income. In tax, write-off deducts expenses required to produce income. Business expenses must be ordinary and necessary for tax deduction
Profit occurs when selling price exceeds cost price. Profit formula: Profit = Selling Price - Cost Price. Loss occurs when selling price is less than cost price
P&L statement summarizes company revenue, costs, and expenses over a period. Public companies must file quarterly 10-Q statements and annual 10-K reports. Statement shows operating performance and profit margins
Cash flow statement tracks cash inflows and outflows to assess company financial health. Complements balance sheet and income statement as one of three main financial statements. Helps creditors determine company's liquidity and investors assess financial stability
Accrual accounting records revenue before payment and expenses when incurred. Follows matching principle requiring revenues and expenses in same period. Uses double-entry accounting method. Encouraged by IFRS and GAAP, standard for most companies
Most preferred accounting program in Turkey for SMEs. Supports up to 16 users and 25 companies. Compatible with Windows 10 operating system. Supports MS SQL Server database