Shows the revenues, expenses, and resulting profits or losses over a specific period of time. It provides a summary of the financial performance during that period.
The P&L statement typically covers a specific accounting period, such as a month, a quarter, or a year and usually has:
- Revenue
- Costs
- Gross Profit
- Operations Expenses
- Operations Profit
- Interest income/ expenses
- Investments
- Net Income
The profit and loss statement is a valuable tool to understand how the Branch or Club is performing financially. It helps them assess the company’s profitability, identify trends, and make informed decisions regarding future operations.
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