Too Hard For Most

[Harry-Wragg]

Q. What's the difference between a Profit & Loss Account and an Income & Expenditure Account?

A. I agree, who cares?

[mxyzptlk]

I would suggest, as a layman, that an I & E account takes care of all ins and outs that are required for running a business down to the last penny/paperclip. While the P & L is the difference between in and out