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It doesnt really matter what you call your PL.
Reading a p&l statement. How to read the profit and loss statement. This is a large section but it is going to be the most beneficial to you if you dont know how to use your Profit and Loss effectively. To locate the profit and loss statement PL in LivePlan click on the Forecast tab and then Profit Loss.
Lets start with the PL ie. It is often referred to as anIncome Statement as it also shows the profits generated by the business. A profit and loss statement PL or income statement or statement of operations is a financial report that provides a summary of a companys revenues expenses and profitslosses over a given period of time.
How to read and use a Profit and Loss statement PL Note from Tracey. Interim PL reports may be abbreviated versions of. As opposed to the Balance Sheet this is measured over a certain booking period typically a year quarter or month.
According to Investopedia a profit and loss statement is a financial statement that summarizes the revenues costs and expenses incurred during a specific period of time usually a fiscal quarter or year. The sum of the sales appears typically on the first line of the statement that is why it is also referred to as top line. The below is probably a simplistic view of PL through my experience and Im unlikely to use.
There are a lot of names this document goes by but theyre all talking about the same information about your business. Key to understanding your hotels profitability your PL statement outlines your profits or losses over a given time periodas the name suggests. A profit and loss PL statement summarizes the revenues costs and expenses incurred during a specific period of time.
The profit and loss statement of a certain period. Take the time to read and do the calculations in this section and then do them on your profit and loss statement for your business. The example shown in the figure is an annual PL report.
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