profit and loss statement

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Related to profit and loss statement: balance sheet, income statement, Cash flow statement

Profit and Loss Statement

An annual report, and other quarterly reports, a publicly-traded company publishes giving information over a given period of time. The report contains information on the company's financial state, most notably statements on revenue, expenses, and earnings (which is the difference between the two). It is in general less detailed that a stockholder's report but contains much of the same information. A profit and loss statement goes by a number of other names, including income statement, earnings statement, earnings report, and operating statement. See also: Balance Sheet.

profit and loss statement (P&L)

profit and loss statement

A semi-itemized list of all revenues and expenses of a person or company over a stated period of time, such as one month, one quarter, or one year.The items on the list are generally broad categories, but the selection of categories is a matter of personal preference for most small businesses.As a general rule,one should design a profit and loss statement so that it gives a snapshot of important revenue categories and the expenses associated with those particular revenues.

References in periodicals archive ?
The records to produce the material profit and loss statements should be kept under U.
The proposed regulations do not actually require that material profit and loss statements be created prior to a demand or summons of the IRS if they are not otherwise maintained.
As illustrated by the example below, the material profit and loss statements required may well be overlapping.