"Profit and loss statement (P&L)" Definition
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 Glossary   >   P   >   "Profit and loss statement (P&L)" Definition   

        Profit and loss statement (P&L)

A set of accounts, usually prepared annually, which depict a company"s trading performance and are normally read in conjunction with the balance sheet and cash flow data. The profit and loss account can broadly be shown as follows:Turnover (sales) less manufacturing costs (or cost of sales if for example a retailing company) = gross profit or lossGross profit plus any non-trading income less operating costs = operating profit Operating profit less interest payments on bank loans or loan stock = profit before tax (pre tax profit)Pre-tax profit, less tax = net profit after taxPart of the net profit after tax may be used to pay a dividend with the balance being retained within the business for future investment.

Profit and loss statement (P&L)


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Profit and loss statement (P&L) - A set of accounts, usually prepared annually, which depict a company"s trading performance and are normally read in conjunction with the balance sheet and cash flow data. The profit and loss account can broadly be shown as follows:Turnover (sales) less manufacturing costs (or cost of sales if for example a retailing company) = gross profit or lossGross profit plus any non-trading income less operating costs = operating profit Operating profit less interest payments on bank loans or loan stock = profit before tax (pre tax profit)Pre-tax profit, less tax = net profit after taxPart of the net profit after tax may be used to pay a dividend with the balance being retained within the business for future investment.


Profit and loss statement (P&L) : a set of accounts, usually prepared annually, which depict a company"s trading performance and are normally read in conjunction with the balance sheet and cash flow data. the profit and loss account can broadly be shown as follows:turnover (sales) less manufacturing costs (or cost of sales if for example a retailing company) = gross profit or lossgross profit plus any non-trading income less operating costs = operating profit operating profit less interest payments on bank loans or loan stock = profit before tax (pre tax profit)pre-tax profit, less tax = net profit after taxpart of the net profit after tax may be used to pay a dividend with the balance being retained within the business for future investment.