How do you craft a 'profit &loss' statement?
I have need of to know how to manufacture a profit and loss statement...
not one for a business, but one for me intuitively.
an example would sustain too.
Answers:
It's sporadic to prepare a P&L statement for an individual. It's graceful to identify your income - your stipend, commission, tuition income, odd-jobs income, etc. But how do you identify similar expenses? Strictly speaking, a P/L contains items which must be matched. So if orderly to earn your income you MUST incur dependable expenses, next those can be knock sour against your income to arrive at a "profit", but if you're simply trying to harmonize your household budget, you have need of to take off other things, close to home utilities, groceries, etc.
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not one for a business, but one for me intuitively.
an example would sustain too.
Answers:
It's sporadic to prepare a P&L statement for an individual. It's graceful to identify your income - your stipend, commission, tuition income, odd-jobs income, etc. But how do you identify similar expenses? Strictly speaking, a P/L contains items which must be matched. So if orderly to earn your income you MUST incur dependable expenses, next those can be knock sour against your income to arrive at a "profit", but if you're simply trying to harmonize your household budget, you have need of to take off other things, close to home utilities, groceries, etc.