For any business, it is very crucial to understand the business performance in terms of profitability, income generation, growth and many more. Various stakeholders like investors, bankers/ lenders, customers, vendors/ creditors, holding co/ subsidiaries etc. are interested in understanding the performance of the business. Hence, Profit and Loss Statements or Income statements become a crucial part of the financial documents, any company produces. It is usually prepared for a pre-determined period of time. From legal standpoint, preparation and audit of financial statement is mandatory for majority of the countries.
Profit and Loss statement highlights various components like revenue, direct costs, indirect costs and net performance (be it PROFIT or LOSS) for any entity. Now, for small to medium sized or sometimes large entities like to prepare Profit and Loss statement outside ERP or manually in Excel or Spreadsheet or even MS Word.
Hence, these templates here at FormatWorks helps your organization or your client to get started with. These templates will have pre-defined fields and columns, you can customize these fields as per your requirement.
If you are an analyst or advisor or consultant or even a business owner, you can quickly explore and get started. Even if your business is small sized, day care facility, agriculture based, hotel industry, Non profit or even a juice bar, you will get templates and formats for all category.
Additionally, if you want template to compare your income for specific period or via certain concept like CVP, Contribution Margin, Comparative Income, Projected or consolidated. You can find templates for these categories as well.