What is P&L? Give a brief explanation.

Question

Accepted Answer

P&L stands for Profit and Loss. It is a financial statement that summarizes the revenues, costs, and expenses incurred during a specific period of time.

P&L is also known as an income statement or statement of earnings.
It shows the company's ability to generate profit by increasing revenue and reducing costs.
The statement includes revenue from sales, cost of goods sold, operating expenses, and taxes.
P&L helps in evaluating the financial performance of a business and making informed decisions.
Example: If a store's P&L shows increasing revenue and decreasing expenses, it indicates a positive financial trend.

Accepted Answer

PNL stands for Earning before interest tax depreciation and amortization.
PnL is financial data which gives you operating results of specific period of time of your business.

Professional and investors using this method to check how much money they are making from their business.

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What is P&L? Give a brief explanation.

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