what is profit and loss account
Answers
Explanation:
a written record of the amounts of money that a business or organization earns and spends in a particular period.
विशिष्ट काळात एखाद्या व्यवसाय किंवा संस्थेने मिळविलेल्या आणि खर्च केलेल्या पैशाची लिखित नोंदणी; नफातोटा लेखा, लाभालाभ लेखा.
The profit and loss (P&L) statement is a financial statement that summarizes the revenues, costs, and expenses incurred during a specified period, usually a fiscal quarter or year. The P&L statement is synonymous with the income statement. These records provide information about a company's ability or inability to generate profit by increasing revenue, reducing costs, or both. Some refer to the P&L statement as a statement of profit and loss, income statement, statement of operations, statement of financial results or income, earnings statement or expense statement.