Question 1

What is included in a Profit and Loss Statement?

Accepted Answer

A P&L statement includes Revenue (Sales & Fees), Cost of Goods Sold (COGS), Gross Profit, Operating Expenses (Rent, Salaries, Software, Utilities, Marketing), Operating Profit (EBITDA), Tax provisions, and final Net Profit.

Question 2

Can I use this P&L statement for bank loans or ITR filing?

Accepted Answer

Yes, it computes standard accounting metrics required for income tax returns, loan applications, and investor pitches.

Profit and Loss Statement Generator