I typically ask about various items on the profit and loss (P&L) — also called an income statement — without actually referring to the document itself. I'll usually ask about the cost of goods ...

Also referred to as a profit and loss statement. By combining these elements, the income statement illustrates just how much income your company makes or loses during the year by subtracting cost ...

This is the final part of the profit and loss account. If the net profit figure is negative, the business has made a loss.

Can an accountant do a profit and loss statement? A certified income statement requires the services of a certified public accountant. Financial statements are certified by a CPA who examines them, ...

A written report of the financial condition of a firm. Financial statements include the balance sheet, income statement, statement of changes in net worth and statement of cash flow. The first ...