Australian Profit and Loss Statement Template
A free, auto-calculating profit and loss statement template for Australian businesses, aligned to AASB terminology.
- Accounting standard
- AASB (Australian Accounting Standards)
- Financial year
- Financial year commonly 1 July – 30 June (some entities use a different balance date)
- Currency
- AUD (A$)
- Filed with
- ASIC (Form 388)
| 2026 | 2025 | |
|---|---|---|
| Revenue | A$950,000 | A$950,000 |
| Cost of sales | A$560,000 | A$560,000 |
| Gross profit | A$390,000 | A$390,000 |
| Administrative expenses | A$155,000 | A$155,000 |
| Other operating expenses | A$70,000 | A$70,000 |
| Profit from operations | A$165,000 | A$165,000 |
| Finance costs | A$15,000 | A$15,000 |
| Profit before income tax | A$150,000 | A$150,000 |
| Income tax expense | A$45,000 | A$45,000 |
| Profit for the year | A$105,000 | A$105,000 |
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How to Fill In a Profit and Loss Statement Template
A profit and loss statement — the AASB statement of profit or loss — shows how much a business earned and spent over a period, ending in the profit (or loss) for the year. It is usually the first document an accountant, bank or investor asks for, because it answers the most basic question about any Australian business: is it actually making money?
This template runs from revenue down through cost of sales, expenses, finance costs and tax to a final profit-for-the-year figure, with each subtotal calculating automatically so you can see the effect of any change immediately.
What is a profit and loss statement?
A profit and loss statement (statement of profit or loss) reports income and expenses for a defined period — typically a financial year — and arrives at profit or loss for that period, in contrast to the balance sheet, which reports assets, liabilities and equity at a single point in time.
What to include
- Revenue — income from ordinary trading activities during the period.
- Cost of sales — direct costs of the goods or services sold, deducted to reach gross profit.
- Gross profit — a subtotal of revenue less cost of sales, showing trading margin before overheads.
- Administrative expenses — general running costs such as office and staff overheads not directly tied to production.
- Other operating expenses — remaining operating costs not classified as administrative expenses.
- Profit from operations — gross profit less administrative and other operating expenses, before finance costs and tax.
- Finance costs — interest and similar charges on borrowings, deducted to reach profit before tax.
- Profit before income tax — a subtotal after finance costs, immediately before the tax charge.
- Income tax expense — the tax charge for the period.
- Profit for the year — the final bottom-line result after all income, expenses and tax.
Step-by-step guide
- Enter revenue for the period, recording income from your business’s ordinary trading activities, excluding GST.
- Enter cost of sales — the direct costs of the goods or services you sold — so gross profit calculates automatically.
- Enter administrative expenses, covering general overheads such as office costs, salaries not directly tied to production, and admin staff.
- Enter other operating expenses for any remaining operating costs, so profit from operations calculates automatically.
- Enter finance costs, such as interest on loans or finance leases, to reach profit before income tax.
- Enter income tax expense for the period, calculated at your applicable company tax rate, to reach profit for the year.
- Compare the current period against the prior period column to check whether margins and costs are trending as expected.
- Carry the profit-for-the-year figure through to retained earnings on your balance sheet to keep the two statements consistent.
Australia-specific rules
Under the AASB standards (based on IFRS), reporting entities present either a single statement of profit or loss and other comprehensive income, or a statement of profit or loss with a separate statement of comprehensive income — the structure in this template follows the profit-or-loss section common to both approaches, using Tier 1 (full disclosure) or Tier 2 (Simplified Disclosures) depending on the entity.
Whether a profit and loss statement must be lodged externally depends on company type and size: small proprietary companies are generally exempt from lodging with ASIC, while public companies and larger proprietary companies must prepare and lodge statements consistent with the AASB standards, generally aligned to a financial year of 1 July to 30 June.