profit and loss

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Definitions from WordNet

Noun profit and loss has 1 sense

profit and loss, profit and loss account - an account compiled at the end of an accounting period to show gross and net profit or loss
--₁ is a kind of account, accounting, account statement

Definitions from the Web

Profit and Loss

Description:

Profit and Loss, also known as P&L, refers to a financial statement that summarizes the revenues, costs, and expenses incurred during a specific period of time. It provides a comprehensive overview of a company's financial performance, indicating whether the business has made a profit or incurred a loss.

Sample Sentences:

The accountant prepared the profit and loss statement for the company's annual report.
After analyzing the profit and loss data, the management decided to cut costs in order to increase profitability.
Entrepreneurs need to understand their profit and loss figures to make informed business decisions.
The company experienced a significant loss according to the profit and loss statement for the last quarter.

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