The Profit and Loss Statement is a summary of the financial performance of a club or association.
The Profit and Loss Statement is also known as the Annual Statement of Income and Expenditure. It shows how much money a club or association has made or lost over the year as a result of its operations.
Income can come from areas such as grants, bank interest, fundraising and sponsorship while expenditure can include coach, casual staff and insurance.
The statement is a summary of the financial performance of a club or association and is based on figures that the treasurer has recorded.