What is a Profit & Loss Account?

Jordan Macey

March 19, 2022

What is a Profit & Loss Account? Guide
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Small Business Accounting

The profit and loss account (P&L) is a financial report that shows the revenue, expenses and profit or loss of your company over a specific accounting period.

This period can be a month, a quarter or a year. A P&L is also commonly referred to by other terms, such as the income statement, statement of operations, financial results statement and earnings statement.

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