Country : Australia

Assignment Task:

Task:

 

Using this Profit & Loss Statement

   

This profit & loss statement contains a list of suggested profit items and expenses a typical business may have. You can edit these items by removing or adding rows and typing in your own items. Don’t forget to enter the financial year at the top of the statement.

   

Please note:

This statement assumes all figures are GST inclusive.

   

Formulas

 

When you add your figures, the sheet will automatically calculate your totals and net profit at the bottom. If you are adding or removing rows please double-check your figures to ensure the calculations have been preserved. 

   

Calculations 

 

Gross profit/net sales

equals

Sales

minus

cost of goods sold

minus

any other expenses related to the production of a good or service

.

   

Net profit

equals

Gross profit/net sales

minus

Total expenses.

   

This profit & loss statement is intended as a GUIDE ONLY and DOES NOT constitute financial advice, please verify and discuss your financial statements with a qualified accountant, solicitor or financial advisor.

   
 

This profit & loss statement has been developed by business.gov.au, located within the Department of Industry.

Copies of the latest version of this spreadsheet can be downloaded from www.business.gov.au.

If you need further information, assistance or referral about a small business issue, please contact us on 13 28 46.

 

 

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  • Posted on : October 07th, 2019
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