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. |
These records provide information that shows the ability of an organization to generate margin by increasing revenue and reducing costs. The P&L statement is also known as a ''statement of profit and loss'', an ''income statement'',or an ''income and expense statement''. | These records provide information that shows the ability of an organization to generate margin by increasing revenue and reducing costs. The P&L statement is also known as a ''statement of profit and loss'', an ''income statement'',or an ''income and expense statement''. | ||
Revision as of 14:56, 29 March 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.
These records provide information that shows the ability of an organization to generate margin by increasing revenue and reducing costs. The P&L statement is also known as a statement of profit and loss, an income statement,or an income and expense statement.
