Akademik

profit-and-loss account

profit-and-loss account UK US noun [C] UK (US profit and loss statement)

► ACCOUNTING, FINANCE a document that shows a company's profit or loss in a particular period: »

This loss would be shown as a charge in the profit and loss account.

→ See also EARNINGS REPORT(Cf. ↑earnings report), INCOME STATEMENT(Cf. ↑income statement)

→ Compare INCOME AND EXPENDITURE ACCOUNT(Cf. ↑income and expenditure account)

Financial and business terms. 2012.