Profit & Loss Statement
A company’s revenues, expenses, and profits or losses for a certain time period are displayed on a profit and loss statement, also known as an income statement or P&L statement. By comparing revenue and expenses, the statement highlights a company’s financial performance and shows its capacity for profit.
A profit and loss statement’s expense part lists all the costs incurred by the company during the reporting period. Additionally, the revenue section lists all the money the company generated during that time. The profit or loss for that time period is calculated as the difference between income and costs.
Businesses use profit and loss statements to assess their financial standing, monitor their development over time, and pinpoint areas where they may enhance their financial performance. They are another tool used by lenders and investors to assess a company’s financial performance and determine if it poses a credit risk.
You are able to view your own Profit and Loss Statement by clicking on the “Reports” tab. This will give you two options and you can click on “Profit & Loss Statement.”
This will take you to a summary view of your P&L. But you can switch to a detailed view to see the amount of deductions for each category. You are able to switch around dates or report periods in order to get a specific P&L if needed. In the upper-right there is the arrow pointing down. This will download and export a copy of your P&L out of Hedgi for your own use.