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
Related Terms
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See “P&L Statement” in Corporate Speak, Gen-Z Slang, Pirate Speak, and more.
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