BSBFIM601 Student Assessment

SDProfitandLossGrowManagementConsultants2014V2.0ID122482.xls

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Profit & Loss

Profit & Loss Statement for Grow Management Consulting FY 2014 - 2015
PROFIT & LOSS	2014 - 2015
Income
Consulting fees	$1,175,600
Workshops	$38,000
Publications	$2,000
Executive Search Service	$120,000
Gross profit/net sales	$1,335,600
Expenses
Accounting fees	$6,823
Advertising & marketing	$5,000
Computer Software	$4,600
Insurance	$7,500
Lease/loan payments	$1,500
Motor vehicle expenses	$2,500
Office Cleaning	$5,500
Office supplies	$2,100
Rent & rates	$43,000
Repairs & maintenance	$1,200
Salaries/wages (including PAYG)	$504,000
Superannuation	$60,000
Telephone	$3,400
Utilities	$2,400
Travel and accommodation (for workshops)	$24,000
Contract writer e-book	$10,000
Total expenses	$683,523
NET PROFIT (Net Income)	$652,077
Assumptions:
All figures are GST inclusive.

&C&"Verdana,Italic"&9This Profit and Loss Statement is intended as a GUIDE ONLY and DOES NOT constitute financial advice, please verify and discuss your financial statements with a qualified accountant, solicitor or financial advisor.

Using this Profit & Loss

Using this Profit & Loss Statement
This profit & loss statement contains a list of suggested profit items and expenses a typical business may have. You can edit these items by removing or adding rows and typing in your own items. Don’t forget to enter the financial year at the top of the statement.
Please note: This statement assumes all figures are GST inclusive.
Formulas
When you add your figures, the sheet will automatically calculate your totals and net profit at the bottom. If you are adding or removing rows please double-check your figures to ensure the calculations have been preserved.
Calculations
Gross profit/net sales equals	Sales minus cost of goods sold minus any other expenses related to the production of a good or service.
Net profit equals	Gross profit/net sales minus Total expenses.
This profit & loss statement is intended as a GUIDE ONLY and DOES NOT constitute financial advice, please verify and discuss your financial statements with a qualified accountant, solicitor or financial advisor.
	This profit & loss statement has been developed by business.gov.au, located within the Department of Industry. Copies of the latest version of this spreadsheet can be downloaded from www.business.gov.au. If you need further information, assistance or referral about a small business issue, please contact us on 13 28 46.