Finance and Accounting Automation - Profit and Loss Statement

 Notes:

• What problem does it solve?: Automatically generates a profit and loss statement from given financial data.

• How can businesses benefit from customizing the code?: Businesses can adjust categories for revenue and expenses, allowing for more detailed financial analysis.

• How can businesses adopt the solution further?: Integrate the tool with financial software for dynamic, real-time P&L reports, and send periodic email reports to stakeholders.

Actual Python Code:

import pandas as pd

class ProfitAndLossStatement:

    def __init__(self, revenue, expenses):

        self.revenue = revenue

        self.expenses = expenses

    def generate_statement(self):

        net_profit = self.revenue - self.expenses

        statement = {

            'Revenue': self.revenue,

            'Expenses': self.expenses,

            'Net Profit': net_profit

        }

        return statement

    def display_statement(self):

        statement = self.generate_statement()

        print("Profit and Loss Statement:")

        print(f"Revenue: ${statement['Revenue']}")

        print(f"Expenses: ${statement['Expenses']}")

        print(f"Net Profit: ${statement['Net Profit']}")

# Example usage

pnl = ProfitAndLossStatement(revenue=100000, expenses=75000)

pnl.display_statement()