ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
From the web's #1 provider of financial analysis / ratio analysis
PROFIT AND LOSS STATEMENT Definition
PROFIT AND LOSS STATEMENT (P&L) is also known as an income statement. It shows your business revenue and expenses for a specific period of time. The difference between the total revenue and the total expense is your business net income. A key element of this statement, and one that distinguishes it from a balance sheet, is that the amounts shown on the statement represent transactions over a period of time while the items represented on the balance sheet show information as of a specific date (or point in time).
Learn new Accounting Terms
FEE ACCOUNTANT is an individual who performs manual or automated bookkeeping services and/or maintains the official accounting records.
CD see CERTIFICATE OF DEPOSIT.