Profit-and-loss Statement (Noun)
Meaning
A financial statement that gives operating results for a specific period.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The accountant prepared a profit-and-loss statement for the quarter to assess the company's financial performance.
- A profit-and-loss statement is essential for small businesses to track their revenues and expenses.
- By analyzing the profit-and-loss statement, management was able to identify areas for cost reduction.
- The profit-and-loss statement for the year showed a significant increase in net income due to improved sales.
- The financial analyst reviewed the profit-and-loss statement to determine the company's ability to pay dividends to shareholders.