More in Profit & Loss
Find out what you should do if you receive a nil assessment from the CRA after reporting an income tax loss, and understand loss determination requests.
How do you tell if your inventory is profitable? Read about inventory management apps, QuickBooks reports, and metrics to help assess profitability.
Learn the steps involved to determine your business' minimum monthly profit, and review a sample calculation.
Facing a decision whether to sell or produce a good further? Use these three analysis methods to make the right decision.
Understand the importance of focusing on costs in analyzing profitability and learn how to increase your small business profits.
Net income is the total income after all eligible deductions. Find out what this number indicates and how small businesses in Canada report this at tax time.
Prevent shrinkage through superior inventory management. Discover how a well-designed shipment distribution protocol can help prevent missing inventory.
Learn how the Apprenticeship Job Creation Tax Credit allows eligible small business owners to claim up to $2,000 per year.
Learn how financial leverage can be a powerful tool for business owners, provided they don't get carried away with debt.
An annual review of your P&L is a necessary step to measure your business's progress and plan for the year ahead.