Difference between revisions of "Profit and Loss Statement"
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== Definition == | == Definition == | ||
| − | '''Profit and Loss Statement'''. (Also ''P&L'' or ''PnL'') Is a financial statement that summarizes the revenues and costs incurred during a specific period of time, normally a fiscal quarter or 12 months. | + | '''Profit and Loss Statement'''. (Also ''P&L'' or ''PnL'') Is a [[Financial Statements | financial statement]] that summarizes the revenues and costs incurred during a specific period of time, normally a fiscal quarter or 12 months. |
| − | + | The P&L statement is also known as a ''statement of profit and loss'', an ''income statement'',or an ''income and expense statement''. The name [[Income Statement]] is used formally under [[IFRS]]. | |
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| + | These records provide information that shows the ability of an organization to generate margin by increasing revenue and reducing costs. | ||
[[Category:Supply Chain Finance]] | [[Category:Supply Chain Finance]] | ||
| − | [[Category: | + | [[Category:Financial Statements]] |
Latest revision as of 15:11, 12 April 2021
Definition
Profit and Loss Statement. (Also P&L or PnL) Is a financial statement that summarizes the revenues and costs incurred during a specific period of time, normally a fiscal quarter or 12 months.
The P&L statement is also known as a statement of profit and loss, an income statement,or an income and expense statement. The name Income Statement is used formally under IFRS.
These records provide information that shows the ability of an organization to generate margin by increasing revenue and reducing costs.
