Profit and Loss Statement Template for Your Business Development
What’s on your mind when it comes to profit and loss statement? If you run a business whether it is newcomer or not, surely you are familiar with those term and may be have ever made one. That is financial statement that summarizes the income, cost, and outcome in a period of time which is usually in fiscal or quarter year. It is similar name with statement of operations, earning statement or expense statement, statement of financial result or income, and income statements. This statement informs the condition of the company whether the company is able to create profit by increasing the income, decreasing the cost or even both.
As one of the three types of financial statements which is issued by the company, profit and loss statements is the most popular and common statements because by using this statements, a company or organization is able to see the income or loss that is gain of a business. On the other hand, some other benefits are able to be gained by the company by the use of this statement. This statement allows you to know how much taxes should be paid in the next period. You are also able to evaluate the development of the company about the strategy would be used in the future to solve and face any problem which may appear. It gives comparison to between the nowadays financial statements and the previous statements issued.
Other Samples of Profit And Loss Statement Template :
In order to have the most suitable profit and loss statements template for your company, some following details here are important things need to be paid attention by. Revenue, expense, profit, and loss are four main categories. Other than that, there can be marketing and advertising, technology/research and development, interest expense, taxes and net income. Revenue refers to the income make by the company of the goods sold, for expense usually about selling, general, administrative or SGA describes non production expense such as management salaries, bonuses, travel, meals, rent, and more. Further, excel document may be the best format that can be used for this kind of statement since there is various formula to help calculating the final number of the statements issued.
Profit And Loss Statement Template | Excel – download