The Profit or Loss Statement (the ‘P&L’) is another name for the Income Statement.
It is a summary of the Sales income and expenses for the company over the operating period – a financial history book for the fiscal period (month, quarter, year).
Profit (or loss) is shown at the bottom line of the Income Statement.
Income Statement Equation: Sales Revenue – Expenses = Profit |
→ The left side of the Visual Finance graphic is an Income Statement.
term list.