EPISODE 150 : Mastering Your Profit and Loss: Unleashing the Hidden Insights in Your Business Finances

Whilst I know most of us as business owners have heard the term Profit and Loss, or P&L or even income statement in our time (well at least I hope most of us have) … this conversation is more of a way to reignite the discussion around your P&L, to give it a little more life that perhaps it’s been given now.

You see, this conversation was spawn from the many discussions I have with business owners, who know they have one, know it’s important and all, but aren’t doing enough with it. Knowing what I know about a profit and loss statement, it would be remiss of me to not have this discussion, as I know so many are missing out on the wealth of knowledge that can be found in them.

So in this episode, we’ll explore what a profit and loss statement is, why it is indispensable for you as a small business owners, what critical elements it contains, and what invaluable insights you can derive from it.

Take a listen … A x

 

Key links mentioned throughout the episode

• Profit & Loss Template www.amybajada.com.au/pandl
• Getting started with Xero Mini Course www.amybajada.com.au/xero
• Getting started with Quickbooks Mini Course www.amybajada.com.au/quickbooks