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![A business owner’s guide to understanding and working with the profit and loss statement [Part 2/4]](http://creativecfo.myshopify.com/cdn/shop/articles/P_L_700x.png?v=1602511568)
The profit and loss statement (or P&L in accounting jargon) is arguably the central management statement for most SMEs, recording the majority of operational activities over any period of time, usually monthly. Ranging from the total revenue received to all the expenses incurred by the business over the period, the P&L is a treasure trove of information for any business owner. In part 2 of our 4 part series on management reports, we delve deeper into the profit and loss statement to find out why it is,  undoubtedly, an essential statement for any business owner.Â
![An introduction and high-level overview of the value of management reports [Part 1/4]](http://creativecfo.myshopify.com/cdn/shop/articles/Untitled_design_14076d0b-092f-4cad-9036-62784cca3481_700x.png?v=1601903867)
Management reports play a crucial role in weaving together the results of daily process, performance and reporting across all pillars of business. They present the big picture and provide the clarity that business owners need in an increasingly dynamic world. In this article, which is part 1 of a 4 part series, we introduce you to management reports and highlight the value that it adds to your business.
Let’s say your business finds itself in a position where an investor has shown an interest in injecting cash into your company. The investor will usually want to see specific information about your business and essentially assess your business’s financial risk profile. In this article, which is part 1 of this series, we are going to help you understand the process of determining your company’s risk profile.
So you've been thinking about growing your business and you're full of ideas. But then you start to think about financing that growth and the glow of enthusiasm dulls as the questions form in your mind. How much financing do you need? How do you get it? From where? Financing always seems to come with mountains of paperwork, which doesn’t appeal to many business owners. But there is an easier way, which involves getting Creative CFO to help. Find out more here.
Drowning in tax debt? Don’t owe the South African Revenue Service (SARS) the tax liability they say you do? Perhaps you don't even know whether or not you have a tax liability due. Deciphering tax assessments and managing tax debt can be overwhelming. SARS does, however, provide resources and channels through which you can gain a better understanding of your tax compliance status and tax liability. In addition, you can make certain applications or requests to SARS to manage your tax liability. We break these all down for you here.
Learn how Creative CFO's systems experts helped Musgrave, an African luxury brand specialising in artisan gin and spirits, implement a scalable system that creates control and sophistication around stock, manages multiple locations, supports a large inventory list and provides real-time reports that can be accessed from anywhere in the world.
