The software summarizes the revenues, costs and expenses incurred during a specific period of time, usually a fiscal quarter or year. These records provide information about a company’s ability – or lack thereof – to generate profit by increasing revenue, reducing costs or both.
This is financial software meant to help companies make cash remittances across countries and also do forex trading across financial markets. The software is cross linked to the Dow Jones database, such that whenever any investor begins a new transaction, with the help of this software, an alert would be triggered which would give a transaction history of the new client, in case he has had any transactions with DW earlier, just to provide a history. The software has the facility of maintaining accounting ledgers, trial balances, profit and loss accounts, etc., just as in any accounting software. The software is also tagged with the Anti-Money Laundering Council (AMLC) to keep a tab on any unlawful activities.
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The P&L statement is also referred to as “statement of profit and loss”, “income statement,” “statement of operations,” “statement of financial results” and “income and expense statement.”
The financial statements are submitted to a statutory body for onward submission to Governmental Authorities as is the normal procedure..
