P & L
A profit and loss statement provides information on a company’s financial position during a specific time period, usually annually or quarterly. It generally gives an outline of revenue, the costs of running the business and the profits or losses generated. The P&L statement can also be called an income statement, earnings report and operating statement. Along with the balance sheet, which provides a snapshot of a company’s finances on a certain date, the profit and loss statement constitutes the main financial reports a company gives to investors.
This definition is for general information purposes only