A financial statement that lists the different types of revenues that a company has earned and the expenses that it has incurred. It is also referred to as an income statement. Typical categories include: revenue, cost of goods sold, gross profit, net income, and net income per share. However, each company has its own categories of expenses, so each P&L will be somewhat unique. Publicly traded companies produce quarterly and yearly P&L statements. In a more informal usage, the term may be used to refer to profit and loss responsibility that a department or project has.
Profit-and-loss-statement Sentence Examples
You'll need a proforma profit and loss statement with income and profit projections forecasted out three years.
A large or complex business may wish to hire an accountant or financial expert to generate a profit and loss statement.
Whether you create one yourself or hire someone to write one up for you, a profit and loss statement provides an accurate picture of the fiscal health of the business.
A profit and loss statement provides a summary of the profits made by the company, the expenses incurred, and the net result - either a profit or a loss.
A simple profit and loss statement groups together all the gross revenues and delineates expenses by major categories.