Are you making money or not making money?
Written and podcast for entrepreneurs, corporate management, and investors, John D. Sanders expands on his philosophies of making companies attractive for outside capital - why to do it, how to do it, when to do it, how to promote it, and what to do with it.
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Our subject today is the balance sheet, the profit and loss statement commonly referred to as P&L, and what does it all mean?
So every organization, and if you're a public company, you have to publish your balance sheet and your P&L and it has to be audited. But you can do your own balance sheet and P&L.
And a lot of small companies and organizations do not have them audited but have someone in the organization keep track of the numbers. Otherwise, if you don't have a balance sheet, you don't know where you are. And if you don't have a P&L, you don't know where you're going.
So that's the difference between them. One is a snapshot, the balance sheet, and the other is a roadmap of where you're going.
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In the provision of Management Consulting for Entrepreneurs, I design sound business plans I find worth investing In. With several decades of background in investment banking, strategic planning, and technology growth, whether you're handling one million or seventy million, I'm here to help.