Get the free Balance Sheet and Profit and Loss Statement

This document contains the balance sheet and profit and loss statement of Open Joint-Stock Company 'Interregional Distributive Grid Company of Urals' as of the specified dates. It details the company's

How to fill out balance sheet and profit

How to fill out Balance Sheet and Profit and Loss Statement

1. Collect all financial data, including assets, liabilities, income, and expenses.
2. For the Balance Sheet, list all assets on the left side, including current and non-current assets.
3. On the right side of the Balance Sheet, list all liabilities and shareholders' equity.
4. Ensure that the total assets equal the total liabilities plus shareholders' equity.
5. For the Profit and Loss Statement, begin with total revenue at the top.
6. Subtract cost of goods sold (COGS) to find gross profit.
7. List operating expenses (e.g., salaries, rent) underneath gross profit.
8. Subtract total operating expenses from gross profit to find operating income.
9. Include any other income or expenses (like taxes) to calculate net income.

Who needs Balance Sheet and Profit and Loss Statement?

1. Business owners for financial analysis and decision making.
2. Investors looking to assess the financial health of a company.
3. Creditors evaluating creditworthiness before lending.
4. Accounting professionals preparing financial reports.
5. Regulatory bodies requiring financial disclosures.

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 statement that presents a company's financial position at a specific point in time, detailing assets, liabilities, and shareholders' equity. A Profit and Loss Statement (also known as an Income Statement) summarizes revenues, costs, and expenses during a specific period, showing the company's profitability.

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

Typically, publicly traded companies, large private companies, and certain non-profits are required to file Balance Sheets and Profit and Loss Statements as part of their financial reporting obligations. Additionally, small businesses may be required to file these statements for tax purposes or when seeking financing.

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

To fill out a Balance Sheet, list all assets, liabilities, and equity accounts clearly categorized under their respective headings and ensure that total assets equal total liabilities plus equity. For the Profit and Loss Statement, start with total revenue, subtract costs to find gross profit, then deduct operating expenses, taxes, and any other expenses to arrive at net income.

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

The purpose of a Balance Sheet is to give a snapshot of a company's financial condition at a certain point, helping stakeholders assess liquidity and solvency. The Profit and Loss Statement provides insights into a company's operational efficiency and profitability over a period, allowing stakeholders to evaluate performance and make informed decisions.

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

A Balance Sheet must report total assets, total liabilities, and shareholders' equity. The Profit and Loss Statement must report total revenue, cost of goods sold, gross profit, operating expenses, other income/expenses, taxes, and net income.