8.3. Profit and Loss Statement

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.