P&L Statement

Beginner 💰 Finance / Accounting

Definition

Profit and Loss statement—the report that shows whether your business made money or spectacularly failed to do so.

Example Usage

Our Q3 P&L shows revenue up 15% but expenses up 20%, so we're losing money faster than ever.

Origin

Standard financial reporting document

Fun Fact

Sometimes called an 'Income Statement,' as if calling it something nicer makes the losses hurt less

Source: GAAP standard financial statement

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