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Company name: HELEN DOREEN HOME NO City:PODGORICAIdentification No 02308738Business code: 94.99Profit and Loss Statement 01.01.2022 to ___ 31.12.2022 for the period ___ EUR Group of invoices, invoice 60
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How to fill out profit and loss statement

01
Gather all financial information for the specific time period you want to analyze.
02
List all sources of revenue in the income section of the statement.
03
Deduct all expenses in the expenses section, including cost of goods sold, operating expenses, and taxes.
04
Calculate the net income by subtracting total expenses from total revenue.
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Review the statement for accuracy and completeness.

Who needs profit and loss statement?

01
Business owners and managers who want to track the financial performance of their company.
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Investors who are interested in the profitability and financial health of a company.
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Lenders who require financial statements as part of the loan application process.
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Government agencies for tax purposes.
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A profit and loss statement, also known as an income statement, is a financial document that summarizes the revenues, costs, and expenses incurred during a specific period, usually a fiscal quarter or year. It shows the company's ability to generate profit by increasing revenue, reducing costs, or both.
Generally, businesses with revenue exceeding a certain threshold or those that are structured as corporations are required to file a profit and loss statement as part of their financial reporting obligations. This includes public corporations and private entities seeking significant investment.
To fill out a profit and loss statement, one must gather all revenue and expense data for the reporting period. Start with total revenue, subtract cost of goods sold to find gross profit, then subtract operating expenses, taxes, and other expenses to arrive at net income.
The purpose of a profit and loss statement is to provide a clear picture of a company's financial performance over a specific period. It helps stakeholders assess profitability, operational efficiency, and overall financial health.
A profit and loss statement must report total revenue, cost of goods sold, gross profit, operating expenses, operating income, other income/expenses, and net income for the period.
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