profit and loss


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Related to profit and loss: balance sheet

profit and loss

n. Abbr. P and L
An account showing net profit and loss over a given period.
American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

profit and loss

n
(Accounting & Book-keeping) accounting an account compiled at the end of a financial year showing that year's revenue and expense items and indicating gross and net profit or loss
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014

prof′it and loss′


n.
the gain and loss arising from commercial transactions, esp. as shown on a balance sheet.
[1580–90]
Random House Kernerman Webster's College Dictionary, © 2010 K Dictionaries Ltd. Copyright 2005, 1997, 1991 by Random House, Inc. All rights reserved.
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.profit and loss - an account compiled at the end of an accounting period to show gross and net profit or loss
profit and loss account
account statement, accounting, account - a statement of recent transactions and the resulting balance; "they send me an accounting every month"
Based on WordNet 3.0, Farlex clipart collection. © 2003-2012 Princeton University, Farlex Inc.
References in classic literature ?
It was just before Ernest ran for Congress, on the socialist ticket, that father gave what he privately called his "Profit and Loss" dinner.
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The reader may wish to see how closely Eudosia's account of profit and loss came to the fact, and I shall, consequently, make up the statement from the private books of the firm that had the honor of once owning me, viz.:
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A material profit and loss statement is to be produced with respect to an activity that yields a particularly high profit.
Under the material profit and loss statement requirements of the regulations, profit and loss statements are to be a vailable for the greatest number of separate industry segments that meet the significant industry segment test.
As illustrated by the example below, the material profit and loss statements required may well be overlapping.
Although reporting corporations might be inclined to meet the material profit and loss statement in the most expeditious manner possible (without giving a great deal of thought to the myriad judgments that are relevant in preparing such statements), these statements should be prepared and presented with the utmost care.
Proposed section 6038A regulations: new recordkeeping, information reporting, record production, and translation requirements with respect to transactions between a foreign-owned U.S. corporation and its foreign related parties
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