How to Read a Profit & Loss Statement

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An income statement or a P&L - profit and loss - statement, is a financial report that shows how much your business has spent and earned and whether you’ve made a profit or a loss. The statement can cover any period of time, although it’s most commonly prepared at the end of a month, a quarter, or a year. This video provides specific examples and breaks down the key sections of a P&L statement; revenue, cost of sales, other income and expenses. You can use these figures to calculate your business's bottom line.

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These videos are intended as a general guide only. Please consider what is best for your business. If you require further information specific to your business needs, please speak to your professional advisor/s