How to Create and Read a Profit and Loss Statement
Content Operating expenses Operating income Whether Your Business Operations Are Profitable Business Financial Resources Ways Founders Can Improve Their Personal Finances Section 1: Revenue These statements are generated on a weekly, monthly, quarterly or annual basis, depending on the standard operating procedure of a business. It adds up your total revenue, then subtracts your total expenses, and gives you your net income. A multi-step P&L, on the other hand, requires you to perform multiple calculations in order to arrive at your final net income. The format you choose depends on…
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