If every business is established only to make PROFIT then why income statement
is called "Profit and Loss statement"?
Why "LOSS" word should be appeared here?

Its financial illiteracy and mismanagement of flow which are the biggest
contributors for shutting down the business or bringing the organization in
losses or unknowingly compromising on the profits which do exist within them &
can be expelled by just slightly changing the framework.

We talk only of Profit hence we strive and ensure to keep income statement only
as "Profit statement".

There are revolutionary proven techniques which are unfortunately not fully
digested and not understood well so still untapped.

A sensible and skillful implementation of those methods would promise to address
below :

How healthy should be the Balance sheet, Income statement and Cash flow

How to tame the work flow?

How to figure out what 'not to do' before switching over to 'what to do'?

How the team should act as a team to achieve the goal?

Which are the right data to fetch the results instead of getting lost into sea
of useless data?

Let us collaborate and learn to transform the business world to a decent ocean
rather than viewing it in decoupled segments of red ocean and blue ocean.