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Profit and Loss Statement Centrelink Form

Profit and Loss Statement Centrelink Form

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Instructions and help about centrelink su580 form

Google's explains profit and loss take a deep breath we're going to take you on a ride okay so what is profit and loss we have an example here of red hot body limited profit loss to the 31st of March 2011 so what we have here is the sales turnover as in fees then we have the cost of sales which comes to 1340 and then we have the gross profit from the gross profit you then take all of the expenses and the expenses can be things like accountancy fees bad debts heat and light postage rent that kind of thing you take off the expenses and then you're left with a figure which is called the net profit before tax and that figure the for 209 is what you then pay profit tax on corporation tax or or individual tax generally that's that should profit in loss now a balance sheet is almost like a snapshot of your financial position so it says how much assets you've got at X point in time as at a point in time how many liabilities you've got and the two

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