Free Profit and Loss Statement Template
Strategy State has put together a Profit and Loss Statement Template. This template enables entrepreneurs review the revenues, costs, and expenses of your company.
The free P&L Statement tool will help you understand and analyze the revenues and costs within your business.
What is a Profit and Loss Statement?
A P&L statement is a financial statement that summarizes your costs, revenues (sales), and expenses over a specific period of time. For small and medium-sized business, this is usually over a period of a year.
A P&L statement helps businesses determine the amount of profit or loss, that a company will generate based on specific revenue and cost factors. Companies can use this information to make decisions that will help the company increase their revenue, lower costs and ultimately create more value.
Other names for a P&L statement include a statement of profit and loss, income statement, statement of financial results or income, statement of operations, earnings statement and expense statement.
How to use the Profit and Loss Template
To use the P&L template, simply add your figures that correspond with the column on the left side of the template.
The template will automatically show you your net profit or net loss after you have added all your relevant figures.
This is a great tool to use, especially if you are new to business or if you are not familiar with accounting.
Recap
- The Profit and Loss statement is a financial statement that summarizes the revenues, costs, and expenses incurred over a specified period.
- The Profit and Loss statement is one of three financial statements that companies utilize, along with the Balance Sheet and the Cash Flow Statement.
- It is important to compare your Profit and Loss statements from different accounting periods, as the changes in revenues, operational costs, marketing spend and net earnings over time, tell a story about the company that is more important than the raw data.
This free business tool works great when developing a business after it has been fully evaluated using Strategy State’s Business Evaluation Tool.
Click below to download your free business tool:
