What to look for in your Profit amp Loss PampL Statement

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📍 What story is your income statement telling you? • Your P L summarizes revenue, cost of goods sold, and operating expenses over a specific period. Let’s break down the key areas you should focus on: • Revenue: Is it growing, stagnant, or declining? Dig deeper to determine specific customer segments driving profitability or decline. • Cost of Goods Sold: Includes direct costs of building your product or delivering your services. Monitor as a percentage of revenue. • Operating Expenses: Rent, salaries, software, and other overhead. Look for opportunities to streamline without sacrificing quality or growth. • Make it a habit to review your profit and loss statement monthly and compare it to prior periods and your budget. Look for variances that signal opportunities or issues. • Need help preparing or reviewing your financial statements? Reach out! • https://proseer.co/contact • 👍 Like and subscribe for more financial tips and insights.

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