The P&L (profit and loss statement) summarizes the revenues, costs, and expenses incurred during a specified time period. This information helps executives assess and manage a company's financial health.īut understanding profit and loss isn’t always easy-which is why we created a free P&L statement template for you. This should spark discussion around the leadership table about the "why" and the "so what."Īccurately tracking your profit and loss is necessary to run a successful business. It lets you monitor budgets, analyze profitability, and control spending. What are the key drivers of our Net Income variance for the period, quarter, year?.Did we meet our Gross Profit target for the month?.Actuals: Profit & Loss template is ideal for busy FP&A professionals who want to shave some time off the month-end or period close process with a plug-and-play spreadsheet. The good news is, this tool is simple yet powerful. Actuals report helps drive transparency within the leadership team, fosters a culture of accountability, and helps the FP&A team analyze and communicate the economic drivers of the business. Because “what gets measured gets managed,” we know it’s critical to compare a company’s financial and operational results against some sort of measuring stick-in this case, the annual budget.Ĭreating and sharing a simple Budget vs.
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