A record of income and expenditure over a period of time, balanced to show profit or loss.

The profit and loss account shows the profit or loss generated by an entity during an accounting period by deducting all expenses from all revenues. It measures whether or not the company has made a profit or loss on its operations during the period, through producing and selling its goods or services.

Shows the profit or loss a company has made over a period of time.... more on: Profit and loss account (P & L)

Also known as a P&L account, this financial statement shows an organisation’s revenues, expenditures and gross and net profit or loss during an accounting period. A central discipline for our Finance and Accounting function.

Historical record of how a business has performed over a specific period.

A report on a company's financial status of its earnings or losses over a given period. The profit and loss account lists the income earned, expenses paid and the net profit available for reinvestment.

an account compiled at the end of an accounting period to show gross and net profit or loss

a financial statement that summarizes the financial transactions for a business over a period in time

A statement summarising the revenues earned in the period and the costs incurred to earn them.

Income statement

The account of the business's trading performance between two balance sheets.

see Income and Expenditure Account

One of the three main financial statements legally required to be produced by a company (the other two being Balance Sheet and Statement of Sources and Applications of Funds). Rules define the content and format of Profit & Loss Accounts. The Profit & Loss Account shows the revenue and expenses of a company during a specific period of time. It will also show taxation and dividends due.

An account made up of revenue and expense accounts which shows the current profit or loss of a business (ie. whether a business has earned more than it has spent in the current year).

Retained earnings

An account compiled at the end of the financial year showing that year's turnover and expense items.

The profit and loss account is one of the primary financial statements. It shows a businessâ€(tm)s income and expenditure over a period of time, usually one year. The term “profit and loss account” is also used in the “shareholders funds” part of the balance sheet. In this context, the term represents accumulated profits which a business has generated since its incorporation.

Important part of a company's annual report and accounts along with the balance sheet. It gives details of the company's income over the previous 12 months as well as its operating expenses, including salaries and running costs.

An account summarizing the income and expenditure of a business for a given period and showing the surplus income (profit) or deficit (loss).

an account showing the revenue received and the expenses incurred by a business during a specific trading period.

This account shows the gross profit made by a business together with unusual items of gain from sources other than normal trading, e.g. profit on a sale of land. The balance on the account is the net profit on which tax is charged.

A financial statement showing the earnings and expenses of a company over a given reporting period (as distinct from a balance sheet, which shows the company's assets and liabilities at a set point in time).

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. 2. A reserve in a company’s balance sheet, representing the accumulated profits which a company has generated since its incorporation.

A statement drawn up for a defined accounting period, either past or future, which shows net farm income and a breakdown of its derivation in terms of costs and revenues.