Latest update April 3rd, 2025 6:16 AM
Sep 01, 2024 Features / Columnists, News
Kaieteur News – Welcome back to Talking Dollars & Making Sense. Today, we’re breaking down the Income Statement, a crucial financial document that tells the story of a business’ profitability over time. Whether you’re a seasoned financial professional or a small business owner without a finance background, this column is designed for you. We’ll use real numbers from Demerara Distillers Limited’s (DDL) 2023 Annual Report to illustrate the key concepts and trends. Let’s dive in.
What is an Income Statement?
An Income Statement, also known as a Profit and Loss Statement, is like a scorecard for your business. It shows your total income, costs, and profits over a specific period—typically a month, quarter, or year. This document helps you see whether your business is making money (a profit) or losing money (a loss).
The Structure of the Income Statement
An Income Statement is organized into several key sections. Let’s go through each one using DDL’s 2023 figures:
Why These Numbers Matter
Understanding these numbers is crucial for any business owner. They tell you where your money is coming from, where it’s going, and how much is left over. By analyzing trends—like increasing revenue, managing costs, or improving net profit—you can make informed decisions to grow your business.
Looking Ahead
In our next column, we’ll discuss how to use these insights from the Income Statement to make better business decisions, such as budgeting, forecasting, and planning for growth.
Feel free to reach out at [email protected] with your thoughts, questions, and stories. Until next time, keep making sense of every dollar.
Apr 02, 2025
Kaieteur Sports- Golfer Joseph Szeplaki was crowned winner of the Lusignan Golf Club (LGC)/ STP Investments Inc. Tournament held on Saturday March 30, 2025 at their East Coast Demerara (ECD)-based...Peeping Tom… Kaieteur News- The APNU and the AFC deserve each other. They deserve to be shackled together in a coalition... more
By Sir Ronald Sanders Kaieteur News- Recent media stories have suggested that King Charles III could “invite” the United... more
Freedom of speech is our core value at Kaieteur News. If the letter/e-mail you sent was not published, and you believe that its contents were not libellous, let us know, please contact us by phone or email.
Feel free to send us your comments and/or criticisms.
Contact: 624-6456; 225-8452; 225-8458; 225-8463; 225-8465; 225-8473 or 225-8491.
Or by Email: [email protected] / [email protected]