“Our income statement shows we’re making a profit, but it sure doesn’t feel like it.”

It was a contractor’s wife who had a pretty good feel for how their business was going.

The P&L and the math are simple, but depending on how they’re prepared, P&Ls can show wildly different results. To get an accurate, useful report, we have to understand what goes into it and why it matters. My experience as a business coach has shown that there is a lot of confusion about that.

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