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.

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

prof′it and loss′


n.
the gain and loss arising from commercial transactions, esp. as shown on a balance sheet.
[1580–90]
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.profit and loss - an account compiled at the end of an accounting period to show gross and net profit or loss
account statement, accounting, account - a statement of recent transactions and the resulting balance; "they send me an accounting every month"
References in classic literature ?
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.
The two exceptions with respect to which records must be created if not ordinarily maintained are (i) basic accounting records and (ii) records to produce "material profit and loss statements.
The proposed regulations require underlying records from which the reporting corporation can prepare "material profit and loss statements" of the reporting corporation and all related attributable to "U.
The records to produce the material profit and loss statements should be kept under U.
These changes result in a credit to the Profit and Loss Account for the year-ended December 31, 2004 of approximately GBP 150 million.
The Group will recognize the net liability for defined benefit post retirement schemes on the Balance Sheet and will take actuarial gains and losses on a systematic basis to the Profit and Loss Account, in accordance with the permitted methods of recognition under the standard.
These changes reduce opening shareholders' equity as at January 1, 2004 by approximately GBP 30 million but have no material effect on the Profit and Loss Account for the year-ended December 31, 2004.
1,207,564 Profit and loss account brought forward (1,599,236) (1,999,321) (987,859) Profit/(loss) for the period 142,918 (323,084) (611,377) Exchange adjustment reserve 330,657 308,158
The Group Balance Sheet, Profit and Loss Account and Cash Flow Statement consist of the combination of the consolidated accounts of Eurotunnel P.