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The only difference is that it projects the future instead of the past.
Income statement for startup. Copy that formula in D2 and paste it into the next 58 columns in row 2 in order to set up 60 months ie. A pro forma projected balance sheet. What Goes on an Income Statement.
A Projected Income Statement is just similar to Income Statement or Profit and Loss Statement. You may need several different types of statements depending on the requirements of your lender and your own technical expertise. A startup costs worksheet.
The foundation of a pro forma income statement focuses on various assumptions to make accurate quarterly or annual projections of revenue and expenses. In this case the income statement covers 3 years worth of financial data. This income statement is just like a historical income statement.
Profit and Loss Statement PL A profit and loss statement PL or income statement or statement of operations is a financial report that provides a summary of a. What Is an Income Statement. Creating these financial statements may seem pointless because you dont have an ongoing business at this point.
When you start a business and apply for a startup loan you may be asked for several specific startup financial statements including a profit and loss statement cash flow or sources and uses of funds statement and a balance sheet. Start by building your monthly income statement. Add in any Net Income this is from your income statement.
An example of an income statement report for your startup business plan is as below. In fact Profit is just Revenues minus Expenses. The main difference is that the income statement consists of the actual figures whereas the projected income statement consists of estimated figures for the future period.
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