How do you make a ‘profit &loss’ statement?

luky77_7


I need to know how to make a profit and loss statement…
not one for a business, but one for me personally.

an example would help too.

Powered by Yahoo Answers

Share and Enjoy:

• 
• 
• 
• 
• 
• 
• 

Tags: Profit And Loss, Profit And Loss Statement

This entry was posted on Tuesday, July 14th, 2009 at 4:14 am and is filed under Business tips. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

One Response to “How do you make a ‘profit &loss’ statement?”

1. Sandy Says:
   July 14th, 2009 at 5:09 am

   Powered by Yahoo Answers

   It’s rare to prepare a P&L statement for an individual. It’s easy to identify your income – your salary, commission, tuition income, odd-jobs income, etc. But how do you identify matching expenses? Strictly speaking, a P/L contains items which must be matched. So if in order to earn your income you MUST incur certain expenses, then those can be knocked off against your income to arrive at a “profit”, but if you’re just trying to balance your household budget, you need to deduct other things, like home utilities, groceries, etc.