Income statements, or Profit and Loss statements, are an essential part of any business. However, when displayed as a large table of numbers, it can be difficult to draw out the information needed to answer simple questions such as “how has my revenue changed compared to last year?” or “which region has the largest contribution to labour expenses?”.
Waterfall charts are a great solution for this. In our last blog, we discussed how to use waterfalls for time analysis. Today, we will demonstrate how to use waterfalls for profit and loss statements, with intuitive scenario and account formatting.
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