My dad just came over and ask me how my construction company was going…. He ask about my P&L sheet I said what !? 4 hours later I have a complete p&l statement! 🎉 I was running my business like a checking account. He said that doesn’t tell me anything I need to keep an updated P&L report. I’m 35k in the black with 45k in future sales. Love your video!
I really enjoyed the simple explanation and detailed breakdown of why certain things have to be a specific way. I also enjoy your calm steady demeanor, helped me to focus and grasp info. Thank you
Thank you very much for the insight! It's helping to create right financial planning for my new startup solution right here in Nigeria. Thank you very much!
Hi, Question That driving me crazy lol, how do you handle rolling over profits for example my June profits is currently paying for my aug inventory, Im at the point were my business is breaking even its a start up. if I add my rolling profits my cost of good sold percentages are lower for that month so its no fully accurate. I Would I use my actual sales but then my net profits would be off because ill be negative whatever my inventory cost
I loved how you patiently broke down the 4 key components of a P&L.
My dad just came over and ask me how my construction company was going…. He ask about my P&L sheet I said what !? 4 hours later I have a complete p&l statement! 🎉 I was running my business like a checking account. He said that doesn’t tell me anything I need to keep an updated P&L report. I’m 35k in the black with 45k in future sales.
Love your video!
Thank you, John, you explained the P&L and percentages so well. Fabulous advice regarding reserves. 😁
Profit and Loss statement made simple, thank you.
You're welcome!
I really enjoyed the simple explanation and detailed breakdown of why certain things have to be a specific way. I also enjoy your calm steady demeanor, helped me to focus and grasp info.
Thank you
Awesome, thank you!
Thanks, i was looking for a video less technical and more conceptual
Thanx so much for the additional percentage analysis. It makes P&L so much more meaningful and speeds up decision-making.
Thank you Mr. John Arnott.
Happy to help!
Many thanks
You are welcome
I really enjoyed watching your video. As an entry-level manager, I wanted to learn more about the P/L. I thank you for the vital information.
Glad it was helpful!
thanks for sharing all good information
My pleasure
Thank you for the best explanation of a profit and loss. I will subscribe to see what other great stuff you have.
Awesome, thank you!
@@johnarnott6960 agree to the comment, really well explained, particularly percentages
amazing!!! I think many changes are coming......
Appreciate your breakdown.
My pleasure!
Thanks very helpful.
Glad it was helpful!
Thank you very much for the insight! It's helping to create right financial planning for my new startup solution right here in Nigeria. Thank you very much!
Glad it was helpful!
Thank you so much for this break down!!!
Glad it was helpful!
Revenue? Is this gross sales of products and services or net sales of such, Gross less collected sales tax?
Thank you!
You're welcome!
great - thank you so much, I am going to follow you
Awesome, thank you!
Thanks for the video. Very informative.
Glad it was helpful!
Congratulations!!
You are wonderful thanks
You are so welcome!
thank you thank you
You are very welcome
Very helpfull, hope you can assist in sales and marketing budgeting? Thank you!
Absolutely! Let me know how I can help
Very informative
Glad you liked it
Hi,
Question That driving me crazy lol, how do you handle rolling over profits for example my June profits is currently paying for my aug inventory, Im at the point were my business is breaking even its a start up. if I add my rolling profits my cost of good sold percentages are lower for that month so its no fully accurate. I Would I use my actual sales but then my net profits would be off because ill be negative whatever my inventory cost
Great question. I put COGS in the same period as the sale
I’m going to have to watch this a couple of time
If you are funding your single LLC business do you put your your contributions in your p&l statement
Those would be on the balance sheet, not the P&L
@@johnarnott6960 any good video or free software to understand or make a balance sheet correctly
Dear John,
Thanks for this video. Can you pl share your email
In the description
🤣
Thank You!
You're welcome!