P&L Management Basics | Retail Dogma

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What is P&L Management?
P&L management refers to analyzing the income statement of the business, and taking actions if needed, in order to maximize profits for the business at the end of the reported period. The P&L statement is generated by the business on a monthly, quarterly and yearly basis. It gives a snapshot of how the business has performed during the particular reported period, and gives an idea on how efficiently this business is being managed. It should, however, be combined with the other financial statements , the balance sheet and cash flow statement, to give the whole picture of the performance of the business.
In this video, we explain the basics of P&L management for a retail business.
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