Pima Arizona PLLC Operating Statement

• Category: Limited Liability Company - Professional
• State: Multi-State
• County: Pima
• Control #: US-0666-WG
• Format: Word; Rich Text

Description

PLLC Operating Statement

Lima Arizona LLC Operating Statement refers to the financial statement that showcases the revenue, expenses, and net profit or loss of a professional limited liability company (LLC) operating in Lima, Arizona. This statement is commonly used by PLL Cs to evaluate their financial performance and make informed business decisions. The Lima Arizona LLC Operating Statement is prepared on a regular basis, typically monthly, quarterly, or annually, to provide an accurate snapshot of the company's financial status. It includes several key components and must comply with generally accepted accounting principles (GAAP). The operating statement comprises the following essential elements: 1. Revenue: This section displays the total income earned by the LLC during the specified period. It includes revenue generated from the delivery of professional services, sales of products, rental income, or any other sources related to the LLC's operations. 2. Cost of Goods Sold (COGS): If the LLC is involved in selling products, this section outlines the direct costs directly associated with producing or acquiring these goods. It includes expenses like raw materials, labor costs, and manufacturing overhead. However, as an LLC is primarily a service-oriented business, this section might not be applicable in most cases. 3. Operating Expenses: This segment summarizes all the essential expenses incurred during the LLC's normal course of business. It covers costs such as salaries and wages, rent, utilities, insurance, marketing expenses, professional fees, office supplies, and any other relevant overhead. These expenses are subtracted from revenue to determine the LLC's operating profit or loss. 4. Non-operating Income/Expenses: Sometimes, PLL Cs may generate income or incur expenses that are not directly related to their primary operations. This section includes gains or losses from investments, rental income from non-core assets, interest income or expenses, and any other miscellaneous income or expenses. 5. Taxes: PLL Cs are required to pay various taxes, including income tax, sales tax, property tax, and payroll taxes. This section outlines the tax obligations and provisions associated with the LLC's operating activities. 6. Net Income/Loss: The final section of the operating statement calculates the difference between the LLC's total revenue and all expenses incurred, including taxes. If the resulting number is positive, it represents net income, while a negative value indicates a net loss. Different types of Lima Arizona LLC Operating Statements may include variations in presentation or level of detail, depending on the specific requirements of the LLC or industry standards. However, the core elements mentioned above remain consistent across all types.