This training program will review different types of profit and loss statements, including a QuickBooks profit and loss standard layout as a complex, multi-fund example. Attendees will learn how to analyze growth or loss within a business or department by comparing progressive reports.
1. Revenue, sales, valuation
2. Costs, expenses, EBIT
3. Gross profit, operating profit, net profit
If you don’t prepare your own profit and loss statement, you may not understand what you are trying to communicate about your business's financial performance. Many business owners and senior executives have stacks of reports they never look at because none of them seems to make much sense. Understanding your P&L is vital to small businesses because it also serves as the income statement. Whether it’s time to apply for business credit or a loan, or time to sell your business, you’ll need to bring your P&Ls going back 2 to 3 years. This webinar will help you understand the terms, format, and key performance indicators of profit and loss statements.
Brian G. Rosenberg, CEO of TRG Consulting, is a leading expert in AP automation and process improvement. He has over 15 years in the design of accounts payable shared service centers and nearly 20 years of experience with the implementation of accounts payable solutions. Mr. Rosenberg is also the chairman of the editorial board for Financial Operations Matters magazine and is a published author, and speaker, on procure-to-pay best practices.