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This document provides a balance sheet and profit and loss statement for the Open Joint-Stock company 'Interregional Distributive grid company of Urals' as of 9M 2011, detailing assets, liabilities,

How to fill out balance sheet and profit

How to fill out Balance Sheet and Profit and Loss Statement

1. Gather all financial data including assets, liabilities, income, and expenses.
2. For the Balance Sheet, list all assets (current and non-current) in one column.
3. List all liabilities (current and long-term) in a second column.
4. Calculate owner's equity by subtracting total liabilities from total assets.
5. Ensure that the equation Assets = Liabilities + Owner's Equity balances correctly.
6. For the Profit and Loss Statement, start with total revenue or sales at the top.
7. Subtract the cost of goods sold (COGS) from the total revenue to determine gross profit.
8. List all operating expenses (selling, general, and administrative expenses) under gross profit.
9. Subtract total operating expenses from gross profit to arrive at operating income.
10. Include any other income or expenses, and taxes to get net income at the bottom.

Who needs Balance Sheet and Profit and Loss Statement?

1. Business owners to assess financial health.
2. Investors to evaluate company performance and investment potential.
3. Creditors to determine creditworthiness before lending.
4. Financial analysts for performance analysis and evaluation.
5. Regulatory bodies for compliance and reporting purposes.

People Also Ask about

What is the difference between a balance sheet and a profit and loss budget?

Balance sheets usually include more broad information like accounts payable, loans, cash, inventory, assets, investments, securities, expenses and dividends. A profit and loss statement usually shows administrative expenses, dividends per common share, cost of goods sold, research costs and total revenue and sales.

What is the difference between balance sheet P&L and income statement?

The four significant financial statements are the Income Statement (Profit and Loss), which summarizes revenues and expenses; the Balance Sheet, showing assets, liabilities, and equity at a point in time; the Cash Flow Statement, tracking cash movements; and the Statement of Shareholders' Equity, detailing changes in

What is the profit and loss statement on a balance sheet?

The profit and loss (P&L) statement shows your revenue, expenses, and generates a net profit for a specific time period. The balance sheet provides a snapshot of the value of the business by presenting the assets, liabilities, and owner's equity.

How to prepare a P&L and balance sheet?

How To Create a Profit and Loss Statement Choose a reporting period. Gather financial statements and information. Add up revenue. List your COGS. Record your expenses. Figure your EBITDA. Calculate interest, taxes, depreciation, and amortization. Determine net income.

What is the balance sheet and profit and loss statement?

The profit and loss statement (P&L) is typically prepared before the balance sheet. The net income (or loss) calculated on the P&L flows into the retained earnings account on the balance sheet. This connection makes the P&L a necessary precursor to the balance sheet.

What is P&L statement English?

How To Create a Profit and Loss Statement Choose a reporting period. Gather financial statements and information. Add up revenue. List your COGS. Record your expenses. Figure your EBITDA. Calculate interest, taxes, depreciation, and amortization. Determine net income.

What comes first, P&L or balance sheet?

A profit and loss statement (P&L), also called an income statement or statement of operations, is a financial report that shows a company's revenues, expenses and net profit or loss over a given period of time. The time period can be of any length, but it is usually a month, quarter or year.

For pdfFiller’s FAQs

What is Balance Sheet and Profit and Loss Statement?

A Balance Sheet is a financial document that summarizes a company's assets, liabilities, and shareholders' equity at a specific point in time. The Profit and Loss Statement (P&L), also known as the Income Statement, reports a company's revenues, expenses, and profits or losses over a period of time.

Who is required to file Balance Sheet and Profit and Loss Statement?

Businesses, including corporations, partnerships, and sole proprietorships, are typically required to file Balance Sheets and Profit and Loss Statements as part of their financial reporting obligations. Specific requirements may vary by jurisdiction and regulatory authority.

How to fill out Balance Sheet and Profit and Loss Statement?

To fill out a Balance Sheet, list all assets, then liabilities, and finally calculate shareholders' equity as the difference between assets and liabilities. For the Profit and Loss Statement, summarize total revenues at the top, subtract all expenses to find net income or loss.

What is the purpose of Balance Sheet and Profit and Loss Statement?

The purpose of a Balance Sheet is to provide a snapshot of a company's financial position at a specific date, while the Profit and Loss Statement shows the company's performance over a period. Both documents are used for assessing financial health and making informed business decisions.

What information must be reported on Balance Sheet and Profit and Loss Statement?

A Balance Sheet must report assets (current and non-current), liabilities (current and non-current), and shareholders' equity. A Profit and Loss Statement must report revenues, cost of goods sold, gross profit, operating expenses, and net income or loss.