While your balance sheet speaks to the status of your business, the profit and loss statement tells the story of the quantity and quality of business it does. The flows of revenue and expenses can inform you about future trends for your business well in advance of their impact on the balance sheet.
This Quick Start Guide to your profit and loss statement — the P&L — gives you valuable pointers for extracting the most valuable information and applying it to your business. Learn how to chart the P&L as trend lines, and compare them to each other. See which trend lines are growth indicators, and which others are symptomatic of potential problem points. Track your company goals, forecast future performance, and avoid the intersections that could point to disaster.
Take the right steps to avoid the dreaded month-end closing myth, which leads many to believe their P&Ls aren’t valuable to them until the end of each month. Download this Quick Start Guide from CompTIA now and begin putting the trends in your P&L to work for you.
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