Comparative Income Statement

Success in business means growth. Growth or lack of growth cannot be measured without a comparison of one year’s performance to the next. A comparative income statement is a formal and organized way to quickly calculate and visualize a company’s change between years and plan for the future. A savvy company utilizes a customizable template to compare the two previous years for a look at short-term growth.

Customization provides a company with a fast, free and easy way to accurately represent its incomes and expenses without having to do calculations by hand. This Microsoft Excel template provides an organized way to present, record and analyze company growth in professional manner.

How to Use the Two Year Comparative Income Statement Excel Template

Using the Comparative Income Statement is very easy. First, download the free template from this page. Fill in the customizable company name and save the file. Consider adding any information or font styling to make this document cohesive with other internal company documents. Next, fill in the column headers labeled “[Current Period]” and “[Previous Period]” with the time spans being compared.

Finally, fill in all of the expenses and incomes in each of the white colored cells in the file. All of the blue cells will be calculated automatically once the values are entered. Save the completed form as a new file.

Tips for Using the Two Year Comparative Income Statement Excel Template

• First, use this document to help the company grow. The comparative income statement is an invaluable lens through which trends, trouble spots, and places where the company does well all become visible. For example, one very profitable area may be hiding the unprofitability of another. Use this document to find and then address the unprofitable area and grow the company intelligently.
• Second, be sure not to change the numbers or the formulas of the blue cells in the file manually. Calculations may become scrambled or present inaccurate results. All calculations will be made automatically.
• Third, be sure this document is well backed up electronically and even keep a hard copy. It might only be used once a year, but each new comparative income statement can be compared to older documents to analyze long term trends and properly plan for future growth.

Download: Comparative Income Statement