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1. For example, many online retailers consider the Xmas season to be the most important time of year for their trade, and keeping an income statement for this time period can help them check their own profits against the current trends in their industry.
2. A Income Statement is one of the major financial documents t hat is prepared by business owners or their accountants.
3. A profit and loss statement is an important way of working out not only how your business has been performing in the past, but for predicting how it will perform in the future.
4. It can be valuable in helping you create an annual income projection, and can be used to help show investors and creditors why they should get on board with your business.
5. This is important because it can very clearly show the financial success of your business over a period of time – and it can also show where you’re coming up short.
6. Some templates are so complete (such as business cards), you only have to change the individual’s name, phone number, and email address.
7. The template could be for a business card, brochure, resume, presentation... the list goes on.
8. Others, such as business reports or brochures, could require that everything is changed except the layout and design.
9. Remember that while you open a template to start a project, you save the project as another file type, such as the basic . docx Word format, for editing, sharing, printing, and more.
10. However, for much of the rest of the year, retailers tend to do much less business overall.
11. The template contains a specific layout, style, design and, sometimes, fields and text that are common to every use of that template.
12. A Profit and Loss Statement is another name for the Income Statement.
13. MS templates are pre-designed documents that you or someone else (such as Microsoft) creates to use as a pattern for a project.