Most entrepreneurs start organisations because they are passionate about the primary work of the business — which usually isn’t accounting. This means that most entrepreneurs aren’t completely comfortable interpreting the monthly financial reports they receive. We have met hundreds of entrepreneurs who never look at their profit and loss statements because they do not understand them and explanations have been too complicated. While we can’t teach you to be a Bookkeeper Melbourne or Melbourne Accountant we can give you some basics that will help you with this important financial tool. All P&Ls are based on a very simple formula — sales minus costs equals profit. It really is that simple. Everything else is a matter of breaking out sales or cost into […]
