A P and L Statement (Profit and Loss Statement) is a financial report that summarizes a company’s revenues, costs, and expenses over a period, aiding HR in budgeting and staffing decisions.
- What is a P and L statement?
Answer: It is a financial report summarizing revenues, costs, and expenses. - What does it include?
Answer: It includes sales, operating costs, and net profit or loss. - Why is it important for HR?
Answer: It guides budget allocation for salaries and benefits. - How often is it prepared?
Answer: It is prepared monthly, quarterly, or annually. - Who creates it?
Answer: Finance or accounting teams create it.
