Your profit and loss statement (P&L) helps you understand your business performance and profitability over time. It’s sometimes called an Income statement and its main purpose is to list income and expenditure.

In the shadow of Cyclone Gabrielle, this year's budget focuses on cost of living and cyclone and flooding recovery, with the sights being shifted and narrowed down on skills, science and infrastructure to help grow the economy and make it more productive and secure.