There is no handbook to running a successful company, and vital information may be overlooked on occasion. The number is one thing that should never be neglected, especially the company's profit and loss statement. This is an important aspect of your business that must be reviewed on a regular basis to determine whether or not the firm is actually profitable.

Unfortunately, even if business owners complete this form correctly, they will inevitably commit a number of common errors. In Today's episode, Nick and Joanne discuss what these blunders are and how we may prevent them so that we know exactly how much money the company is earning.