What does profit and loss account mean?
Definitions for profit and loss account
profit and loss account
This dictionary definitions page includes all the possible meanings, example usage and translations of the word profit and loss account.
Princeton's WordNet
profit and loss, profit and loss accountnoun
an account compiled at the end of an accounting period to show gross and net profit or loss
ChatGPT
profit and loss account
A profit and loss account, also known as the income statement, is a financial report that summarizes the revenues, costs, and expenses incurred during a specific period of time, usually a fiscal quarter or year. It provides information about a company's ability to generate profit by increasing revenue, reducing costs, or both. This account includes sales, cost of goods sold, gross margin, operating expenses, net income, and all other incomes and expenses. It is used by management, investors, and creditors to gauge the financial health and profitability of a business.
Matched Categories
Numerology
Chaldean Numerology
The numerical value of profit and loss account in Chaldean Numerology is: 4
Pythagorean Numerology
The numerical value of profit and loss account in Pythagorean Numerology is: 2
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"profit and loss account." Definitions.net. STANDS4 LLC, 2024. Web. 26 Apr. 2024. <https://www.definitions.net/definition/profit+and+loss+account>.
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