The following is an example of a Profit& Loss Statement also known as an Income Statement. Click on any line item label and an explanation will be shown. Sample Business Plan Income Statement An income statement summarizes your revenue and costs and shows your net profit in your business plan.
Take a look at how a gift shop called Broad Street Emporium uses income statements to Aug 13, 2014 The income statement in your business plan Including a projected income statement in your business plan is essential. Whether youre planning internally for your company to stay on track, or youre preparing a physical document for presentation to investors, knowing that the business expects to be profitable (or not) THE INCOME STATEMENT, also called the Profit and Loss Statement, shows how much money a business makes or loses over a specific time period a month, 3 months, 6 months or a year.
Income statements are prepared monthly, quarterly and annually, but never cover a period longer than a year. An income statement, otherwise known as a profit and loss statement, is a summary of a companys profit or loss during any one given period of time (such as a month, three months, or one year).
The income statement records all revenues for a business during this given period, as well as the operating expenses for the business. The first statement appearing in the financial plan is your Forecasted Income Statement. An Income Statement is a financial tool used to determine whether a company earned a profit or incurred a loss within a given time frame. The Income Statement is one of the three financial statements that you need to include in the Financial Plan section of the business plan.
The Income Statement shows your revenues, expenses, and profit for a particular period. Income Statement Template Your business plan should include a threeyear forecast of your income statement. Proforma Income Statements Business Plan Proforma Income Statements A proforma financial statement can be defined as a financial statement prepared on the basis of some assumed events and transactions that have not yet occurred. So a proforma income statement is an income statement based on a forecast.