Financial Reporting AY 2009: Profit & Loss

This sheet is use to monitor my P&L for all my projects. Had started doing it almost the same time i started with my Balance Sheet. But till now, little changes have been made it to as compared as my B/S. For P&L, its very much simple, Selling Price minus Cost Price minus any expenses incurred, it gives you Profit.

I added in "Margin" through the years, to see how the project fare compared to others of its same value. Another add on is "Sold To", its more like profiling. As i post my ads in many places, knowing who and where i made my sales to is important. I can then put more focus that that area, like refreshing my ads there more often or aware of how much i quoted and earned from the same guy before. But its a pretty small market to play around.

For year 2009, i further segmented my entries for P&L into Oakley, Bike Project and Any Other Items. Oakley is obvious. Bike project only records full bike sales. While Any Other Items could be the bike parts, misc items and fees if i managed to earned from helping a friend to get something online.

I noticed i lacked something very important for P&L, the DATE!! Currently I'm looking at a long list of entries, but they are all spread across 5 years! Hence i decided to add in actual date of transaction, so to track the transactions i made during a period of time.

Till now, i had a total of 17 bikes which i built and sold off. Including the loss of my 2 bikes, Cannondale M500 and DEAN, the total loss i had from all the bikes is 1k+. Keeping at a loss 4% of the total bike values. The $1000+ spread over 5 years, averaging 200-300 per year is an acceptable expense/deprecation. However no champagne popping, as the figures yet to include the Custom Ti frame and OEM carbon bike which can easily set off the 4% to maybe 10%?

2010, i shall focus more on my Oakley entries. As i will put in more effort on them. Also with the use of my credit cards, serving as debt to finance and extend the payment. It will be interesting to apply the accounting ratios, ROI, ROE and ROA and compare them.

Need to come out with a standard format to follow and record the entries. Currently thinking what the headings should be.