If you don’t prepare your own Profit & Loss Statement, you may not understand what yours are trying to communicate about your business’ financial performance. Many of the business owners and senior executives I’ve worked with over the past 10 years came to me with stacks of reports they never even looked at because none of it made any sense to them!
Understanding your P&L’s is vital to small business 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&L’s for going back 2 to 3 years. This webinar will help you understand the terms, format, and Key Performance Indicators of Profit & Loss statements.
• Critical elements of a Profit & Loss
• What are Revenue, Sales, and Profit and when do I use these numbers?
• Profit & Loss as an Income Statement
• Operating Expenses, EBIT, EBITDA
• Where are the losses? - How to tell if you’re spending more or earning less
• More Revenue is not growth – How do I tell the difference?
• Understand the meaning and differences of various terms found on a Profit and Loss Statement.
o Revenue, Sales, Valuation
o Costs, Expenses, EBIT
o Gross Profit, Operating Profit, Net Profit
• Know when each set of numbers should be reviewed, what they can tell you, and in which areas of your reports external Business Partners will be interested.
• Review different types Profit & Loss Statements, including a QuickBooks Profit & Loss standard layout and as a complex, multi-fund example.
• Discussion of periodic reports over time and how to analyze growth or loss within your business or department by comparing progressive reports, including suggestions for areas in which to look for typical problems and simple solutions.
• Learn how your Chart of Accounts affects various lines of your Profit & Loss Statement.
• Questions to ask yourself and your accountant when reviewing your Profit & Loss Statement and what the answers mean.
• CEO, COO, Company Owners
• Small Business Owners
• Entrepreneurs, Sole Proprietors, Self-Employed Professionals
• Non-Profit Organizations
• Grant Managers and Fund Directors
• Business Management Professionals
Years of Experience: 18+ years
Areas of Expertise: Financial Accounting
Deborah Wolfe has been a successful government, non-profit, and private accountant for over 18 years. She empowers individuals and builds confidence with education, originality, and authenticity. Her approach combines professionality and originality to design and improve business and accounting solutions. For the past 4 years, Deborah has been a speaker and small business owner consultant, guiding business owners and entreprenuers from startup to success! She is based in St Augustine Florida and is an active writer on LinkedIn.View all trainings by this speaker