profit and loss statement
index ledger

Burton's Legal Thesaurus. . 2006


profit and loss statement
A spreadsheet showing a businesss gross income and expenses, used to determine the net profit or loss for a specific period.
Category: Business, LLCs & Corporations → Business Accounting, Bookkeeping & Finances
Category: Business Cash Flow Problems & Bankruptcy
Category: Business, LLCs & Corporations → Business Tax & Deductions
Category: Personal Finance & Retirement → Taxes → Tax Audits

Nolo’s Plain-English Law Dictionary. . 2009.

profit and loss statement
USA
income statement, Also known as a profit and loss statement or a statement of operations.
A financial statement for companies that indicates how revenue (money received from the sale of products and services before expenses are taken out) is transformed into net income (the result after accounting for all revenues and expenses). The purpose of the income statement is to show managers and investors whether the company made or lost money during the period being reported.
Related links

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Look at other dictionaries:

  • profit and loss statement — statement of revenue and expenses showing the profit or loss for a certain period of time. Glossary of Business Terms * * * profit and loss statement UK US noun [C] US ► ACCOUNTING, FINANCE PROFIT AND LOSS ACCOUNT(Cf. ↑profit and loss account) …   Financial and business terms

  • profit-and-loss statement — noun a financial statement that gives operating results for a specific period • Syn: ↑income statement, ↑earnings report, ↑operating statement • Hypernyms: ↑statement, ↑financial statement …   Useful english dictionary

  • profit and loss statement —    A statement of profits or losses on a company s sales, based on current operations. Losses may show up on this statement based on costs that are creating assets, to be shown on future balance sheets …   Business law dictionary

  • profit and loss statement — detailing of all money made or lost by a business during a set period (Accounting) …   English contemporary dictionary

  • profit and loss statement — noun : income account 2 …   Useful english dictionary

  • Profit and Loss Statement - P&L — A financial statement that summarizes the revenues, costs and expenses incurred during a specific period of time usually a fiscal quarter or year. These records provide information that shows the ability of a company to generate profit by… …   Investment dictionary

  • profit-and-loss account — UK US noun [C] UK (US profit and loss statement) ► ACCOUNTING, FINANCE a document that shows a company s profit or loss in a particular period: »This loss would be shown as a charge in the profit and loss account. → See also EARNINGS REPORT(Cf.… …   Financial and business terms

  • Profit and Loss — may refer to:* Profit Loss , monthly business magazine founded in July 1999 especializing in Foreign exchange market and derivative markets * Profit and Loss ( DS9 episode), the eighteenth episode of the second season of the television series… …   Wikipedia

  • profit and loss — n. the gain and loss as from business transactions: applied esp. to an INCOME STATEMENT (profit and loss statement) …   English World dictionary

  • profit and loss account — 1. A statement showing a company s income and expenditure over a period of time, usually one year. Part of the financial statements of the company. Dresdner Kleinwort Wasserstein financial glossary 2. A reserve in a company s balance sheet,… …   Financial and business terms

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