statement of profit and loss format

A profit and loss statement is a financial statement of the business or company. It describes the revenue generated, the cost of expenditures incurred in a specific accounting period. It is also known as a statement of profit and loss. In this article, we have provided you with 17 different Profit and Loss Statement Templates and Examples that will be very helpful in this regard. Profit and Loss Statement provides the summary of information that tells the ability of the company to generate turnover by increasing the amount of revenue and reducing the cost of expenses. A profit and loss statement is used by businesses to show the financial results of operations for a specific time period like a month, year, or another period of time. A profit and loss statement can be prepared to get a loan from a bank and to convince customers and investors about the financial position of the company. In order to prepare a comprehensive profit and loss statement for your company, you should utilize a profit and loss statement template. The free profit and loss statement templates are added here for you in the Microsoft Excel program. More About the Profit and Loss Statement Template The profit and loss statement template is the summary of the revenue, cost, and expenses incurred during a specific period of time. The record of this statement provides information to an employer for reducing costs and increasing revenue. The profit gained or loss suffered is credited or debited to an entrepreneur‘s capital account. The users of the profit and loss statement are investors, shareholders, owners, and managers. The person when preparing the statement of profit and loss calculates the gross profit. The gross profit is calculated without including expense and income. The net profit or the loss is the amount after deductions of salaries, interest expense, and the bad debts and additions of interest received or bad debt recovered from the gross profit. An accountant preparing the income statement first mentions the name of the company and the year. Get FREE Profit and Loss Statement Templates & Examples: Business Profit and Loss Statement Template Download Profit and Loss Statement Outline Template Download Detailed Profit and Loss Statement Template EXCEL Download Sample Profit and Loss Statement Template Download Profit and Loss Statement Example for a Manufacturing Company Download Ebay's Year End Profit and Loss Statement Template Download Corporate Profit and Loss Statement Template Download Profit and Loss Statement Template WORD with Explanation Download Profit and Loss Statement Format Template Download Monthy Profit and Loss Statement EXCEL Template Download Standard Profit and Loss Statement Template Download Profit and Loss Income Statement Template Download Sample Profit and Loss Statement Template in XLSX Format Download Simple Trading and Profit and Loss Statement Template Download Professional Profit and Loss Statement Template Download Profit and Loss Statement Example of a Company in DOC Format Download Editable Profit and Loss Statement Template Download