Explain the importance of an operation using having a monthly profit and loss statement

Part 1: Primary Task

Within the Discussion Forum area, write at least 250 words that respond to the following questions with your thoughts, ideas, and comments. This will be the foundation for future discussions by your classmates. Be substantive and clear, and use examples to reinforce your ideas:

Consider the importance of the financial viability of your concept. All factors such as menu price, ingredient cost, labor cost, fixed and variable expenses need to be taken into account.

  • Explain the importance of an operation using/having a monthly profit and loss statement.
  • Explain the concept of creating a P and L Pro Forma; include what it is and how it can be used in a business plan.
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