Yuba Sutter Chamber of Commerce - Event Information
Event Name:
Bookkeeping Essentials: Understanding Your Profit & Loss Statement
Event Type(s):
Community Events Visitor & Community Events
Description:
Presenter Coleen Morris Sutter Buttes Business Services
Is It Important I Understand It?
What the Heck Is This Profit & Loss Thing?
Understanding your Profit & Loss (P&L) is vital to small business because it also serves as the Income Statement. Your P&L is the most popular and most common financial statement in any business plan. It's the financial statement that bankers and investors will flip to first when reviewing your business plan. The P&L tells you if your company is profitable or not.
What You Will Learn
Critical elements of a profit & loss.
What are the revenue, sales, and profit and when do I use these numbers?
Profit & loss as an income statement.
Where are the losses? how to tell if you're spending more or earning less.
More revenue is not growth. How do I tell the difference?