TOTAL GIG COST $60
Covering these components:
- Cost of goods sold
- Gross profit
- Net profit
A profit and loss, or P&L, forecast is a projection of how much money you will bring in by selling goods and/or services and how much profit you will make from these sales. In good times, you use it to ensure that there will be enough money coming in to exceed the costs of providing the goods and services so you can make a solid profit. In tough times, your P&L can play an essential role in showing you what kind of a plan you need to return to breakeven, so that you'll be able to survive until better times come.
Imperative in convincing your lender of your ability to repay your loan or satisfy investors.
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