Some alternative methods to the Profit and Loss Statement for tracking budget trends and monitoring business performance include the use of a Cash Flow Statement, Balance Sheet, and Key Performance Indicators (KPIs). The Cash Flow Statement provides a detailed look at the company's cash inflows and outflows, while the Balance Sheet provides a snapshot of the company's assets, liabilities, and equity at a specific point in time. KPIs, on the other hand, are specific metrics that businesses use to track their performance against their strategic goals.
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