What is a profit and loss statement?
Monday, March 21, 2011 at 2:43PM A profit and loss statement is identical to an income statement. The profit and loss statement (or P&L) contains the revenues, expenses, and net profit or loss of a business for a specific period of time, such as for a month, quarter, or year. If it is being reported by a publicly held company, the P&L also includes both basic and diluted earnings per share information.
The P&L is part of the financial statements, which are also comprised of the balance sheet and the statement of cash flows. A more comprehensive view of the P&L is provided in the income statement overview article.
Similar Terms
The profit and loss statement is also known as the P&L statement.
Related Topics
Condensed income statement
Contribution margin income statement
Income statement overview
Multi step income statement
Single step income statement
What is a cash basis income statement?
What is a comparative income statement?
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