The Profit and Loss statement is the most important navigational tool of the business. It is often not checked enough to keep the business on course for success. We plan to change that using the ProFound Impact Process to create a deeper understanding of the parts for everyone and reviewing the Profit and Loss statements on a regular monthly basis.

Consider the elements of a Profit and Loss for Contractors broken down into five elements, just like a human being:

Head = Sales Estimates and Client Selling
Upper Body =Cost of Goods for Heavy Lifting & Doing the Job
Waist = Gross Profit
Legs = Expenses Supporting the upper business portion.
Net Profit = Feet- The more we make the faster we can move.

Gross Profit = Sales   -   Cost of Goods

Net Profit = Gross Profit  -  Expenses