Compiling A Profit and Loss Statement


Checklist for Compiling A Profit and Loss Statement


A profit and loss statement (income statement) is among the most effective tools for analyzing the profitability of your business. A P&L statement typically measures a business’ revenue and expenses monthly, quarterly, or yearly. Essentially, a P&L statement uses the business income, the operating costs, and the total expenses to calculate the profit or loss incurred by a business in a given duration. This “Compiling A Profit & Loss Statement” Checklist is a step-by-step guide for the compilation of a P&L statement for your business.