profit and loss

profit and loss
an account compiled at the end of an accounting period to show gross and net profit or loss (Freq. 1)
Hypernyms: ↑account, ↑accounting, ↑account statement

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1. : a summary account used at the end of an accounting period to collect the balances of the nominal accounts that the net profit or loss may be shown
2. : a nominal account or statement of profit and loss

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the gain and loss arising from commercial or other transactions, applied esp. to an account or statement of account in bookkeeping showing gains and losses in business.

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profit and loss,
an accounting record to show net profit or loss.
prof´it-and-loss´, adjective.

Useful english dictionary. 2012.

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