Profit Loss Statement Template in Business
As a business owner, it is a must for you to understand financial statements. It is one thing where you can see how much money your business earns. That is the main point. Actually, there are three types of financial statements you must know. They are the balance sheet, cash flow, profit loss. One of those three has to be mastered by you as a business owner. It is a profit loss statement. This statement will give you a brief summary of the company’s income, expense, and profit/loss in the period given. This statement also has other names such as income statements, statements of operations, statements of financial results, and some others.
Therefore, let’s know more about the profit loss statement template. What to include and the other benefits you may get by understanding this topic here. There are several main categories that need to be included in the template. Revenue states the income earned by the company from its sales of goods or the services supplied. The cost of goods sold describes the direct cost within the production of goods or services. Direct labor, direct factory overheads, material costs are some aspects of the cost of goods sold. Selling, General, and administrative or SG&A expenses, marketing advertising, technology/research and development, interest expense, taxes, and net income are other crucial parts that should be included in the statement template.
Other Samples of Profit Loss Statement Template :
By having more understanding and even master this profit loss statement template, you can see some benefits here. Find the best business strategy for the growth of the company is the first benefit. Other than that, you are also able to see the insights of the details of operations of your company as gross margin, top and lowest revenues stream, top spending categories, and where you will cut the spending. Moreover, you will be able to see the growth of your business at a specific time, where areas that have an impact on the revenue growth and profitability, also sales trends and patterns. At the bottom of this page, you will be able to download this type of template for free too.
Profit Loss Statement Template | Excel – download
