I like to start with the most basic of numbers to create the assumptions
spreadsheet. From that info you can create the other financial reports
(including the P&L).

Start with the price for one unit of your product or service. How much do you
expect to sell in one day? One week? One month? One year? (Yes you are taking
a guess here, but try to make it a realistic, educated guess.)

Now you have some data to work with. See below for much more detail about how
to easily create your financial statements.

It seems the "assumptions for your profit and loss spreadsheet" are based on
for-profit organizations. Will the information differ for a nonprofit? The
sales information has me a little confused considering must of my
organizations funding will come from donations through fundraising.

What are the assumptions for McDonald's profit and loss spreadsheet?

Hi Helen, In this section you are supposed to explain any documents, forecasts or other assumptions that you relied on to formulate your profit and loss projections. This may include assumptions about gross profit, operating expenses, taxes or dividends or owner draw.