Being an entrepreneur like Luke Skywalker (or Count Dooku — rest in peace, Mr. Lee) working for yourself can bring a whole host of benefits – better well-being, better business hours, and being happy in what you do are the positive sides to entrepreneurship along with wielding your trusty light saber. But what usually comes with working for yourself and running your own business are the financial reports and data that most of us just don’t like to decipher, leading us to financial peril.

Profit & Loss

Profit and loss are a given in business, yet there are many entrepreneurs out there who don’t even look atP&L statements Yoda their statements, thinking a Jedi mind trick would, well, do the trick. Understanding the language of P&L statements is actually quite straightforward even from a business bookkeeping aspect:

Sales – Costs = Profit

There are sometimes different versions of these words, but the formula is still the same. Sales, revenue, or income will be at the top of your statement; cost or expense, somewhere in the middle; and profit, or net income, will be the final profit sum at the end of your statement.

Working Out Subtotals

You may see columns in your P&L statement such as a breakdown as to where your costs and sales come from. For example, if you own a car rental business, you may have three separate sales statements; one each for small cars, family cars, and SUVs.

Costs may also be broken down in similar ways. In the case of a car rental company, you may wish to breakdown your costs for car hire, maintenance, and staff or building upkeep. It doesn’t matter how you break down your sales and costs, because these always add up to total sales and total costs. A breakdown of these can help you to analyze where you gain the most or least profit, so that you can then fix or maximize that particular product, cost or service.

A Mathematician, You Do Not Have to Be

So says Yoda. Once you take a section of your P&L statement and look further into what it really means, profit and loss statements need not be so complicated. Just remember that sales, minus cost, equals profit. The more sales you create, the larger your profit. The more cost you incur, the more likely you will make less profit. Now may the Force be with you.

Why Identity Protection Is Important For You

Posted by wpadmin | Posted in Finances, Taxes | Posted on 28-06-2016

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You would never leave your car unlocked in a busy parking lot with your life’s savings in the back. So you should take another look at how you think about your identity. It’s understandable that you don’t think about it. It’s not as tangible as physical money or valuables, but it is just as, if not more, important to protect. Identity protection is much more vital to your safety than you think

Under538672405_1280x720 identity protectionstanding Your Risk Without Identity Protection

The bad things that can happen to you when you are without backup can be staggering.

 

 

 

  • You can not only lose money, but you can be fully responsible for what happens with that money. There is a paper trail leading directly back to you.
  • It doesn’t take a super genius to steal your identity. Anyone can do it though many different channels; way too many for you to personally monitor. Identity Protection can monitor all of those possibly weak areas for you.
  • It can destroy not only your credit, but it can wreck your future all together. Without the proper protection, someone can go around for years pretending to be you — using your credit, money, and your face.

 

Don’t Let It Happen To Youshield-1086703_960_720 identity protection

There are options for you to keep yourself protected. The Sub Prime Credit Store has top notch Identity Protection to keep you safe and confident. Don’t let yourself be taken advantage of. Get Identity Protection today.

 

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