Business Analysis & Worksheet Templates
It is one of the three statements every business issue on a quarterly and annual basis. The other two are balance sheet and cash flow statement. This profit and loss statement is also known as the income statement and includes the revenue and cost. The cost is accessed through operational cost, taxes, interest plaids and goods sold then the total cost is subtracted from the revenue to get the net income or profit. The actual earnings can be assessed by comparing the investment statement at different accounting period as the operational cost, research investment and other parameters are varied in a different period.
Those records provide information about a company’s strategies that how it could produce a profit or why it is not generating earnings. What should be done to increase revenue and reduce cost? The profit and loss statement is also called “income statement,” “”statement of financial results,” ”statement of operations “or “income and expense statement“. It is the summary of the business performance in finance region. The monthly quarterly and annual analysis are done to seek out the financial performance of a business and the statements reflect how your business is surviving in the market.
The profit and loss statements also integrate simple calculations to gain net and gross profits through a fixed formula and grids are designed to list the different incomes and their total. Businessmen adopt software to design such statements and free on-line templates can also ease this documentation and calculation procedures.
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Profit and Loss Statement Template
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