Profit And Loss (Noun)
Meaning
An account compiled at the end of an accounting period to show gross and net profit or loss.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The company's profit and loss statement revealed a significant decline in net revenue over the past quarter.
- At the end of each fiscal year, the accountant prepares a comprehensive profit and loss account to evaluate the business' financial performance.
- To make informed decisions, investors require a detailed profit and loss statement that outlines the company's expenses and revenues.
- Analysts scrutinize the profit and loss statement to identify areas of improvement for the struggling corporation.
- The profit and loss account is an essential financial tool that helps entrepreneurs assess the overall financial health of their business.