how to make a profit and loss statement - a template

how to make a profit and loss statement - a template

It is the responsibility of the project manager and the site accountant to prepare the profit and loss account every quarter to find out whether the project is running in profit or loss. Here below you can find a small brief of he same and the attachment shall help you to understand the same
profit and loss statement.png
A profit and loss statement (P&L), also known as an income statement, is a financial report that shows a company's revenues and expenses over a given period of time, usually a fiscal quarter or year. It is one of four major statements in the financial reporting process, and it shows the organization's net profit or loss during that time.

While P&L statements can be constructed in Microsoft excel, spreadsheet use in corporate finance processes is generally discouraged by industry experts. Instead, companies can automate the financial reporting process with the finance module of an enterprise resource planning system( ERP) or by adopting specialized financial reporting software.
 

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  • profit and loss statement.xlsx
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Great thoughts @Srinivasan !! Good Project Managers always have a real-time sense of the financial health of their project(s). I think a P&L -type assessment, as you said, is probably more of a "Home Office" tracking metric, but your point of the need to keep track of costs is very important for construction engineers and PM's.

I have quite a few job cost templates that might be of use to the membership - I'll try to post one of them in a separate post.