Insights from your Profit and Loss Account

Most small business people would agree that their Profit and Loss account (now more correctly called a Statement of Financial Performance) is among the easier – if not the easiest – financial document to understand. It’s typically presented in two parts.

The top half of the statement reveals the various sources of Income the business has received for the period covered, such as a month, a quarter, half year or full financial year. After subtracting the cost of producing your goods or services, commonly referred to as the Cost of Goods Sold, it shows your Gross Profit figure.

The bottom half of the account lists all the relative fixed running costs (business overheads) such as rent, power and communication costs you need to pay each month regardless of sales levels. When these costs are subtracted from the Gross Profit the result is a Net Profit figure (before tax).

So far, so simple, but you can learn more. Read More »

Freedom Print & Design – Palmerston North

A couple of weeks ago we had a requirement to have Business Cards and Letterhead designed and printed. Not knowing a printer we did a Google search on Printers Palmerston North and two stood out for us. One was Freedom Print & Design who we went with.

What impressed us with Freedom Print & Design was:

  • The quick response to my initial email request that was shown by Kylie Burch, Customer Service
  • The design, which evolved from a vague idea in my head, produced by Gabrielle Giles, the Graphic Designer
  • I was able to correspond and do everything by email
  • The total cost of the job  was reasonable
  • The time taken to do the job exceeded my expectation
  • The philosophy of Dan Wheeler the Company Director which is summed up in their radio ad “On time, every time or it’s free”.

We could not let this experience go by without paying tribute to Dan, Kylie and Gabrielle for an amazing experience. Bless you all. Read More »