The accounting side of your business can be a little intimidating and maybe a little scary if you're unfamiliar with all of the terminology. While it isn't necessary to go back and earn a degree in accounting, it can be helpful to understand some basic terminology to better understand your businesses' profitability. Whether you’re a new business owner or have been in the game for a while, you’ve probably heard of a profit and loss statement or P&L for short. Its’ name is pretty self explanatory,