P&L
Business & Finance abbreviation · Accounting
| Stands for | Profit and loss statement |
|---|---|
| Categories | Business & Finance |
P&L stands for Profit and loss statement, an accounting abbreviation.
Financial statement summarizing revenue, costs and expenses over a period, such as a quarter or year, to show whether a business made a profit or a loss. It is also called the income statement or statement of operations.
Example: The new store hit break-even on its P&L in its fifth month of trading.
Usage notes
Pronounced "P and L." "P&L responsibility" in a job description means accountability for a business unit's revenue and costs. The typical layout moves from revenue through cost of goods sold, gross profit, operating expenses and operating profit to net income. British usage traditionally said "profit and loss account"; IFRS calls it the statement of profit or loss.
Related abbreviations
More accounting abbreviations
- MTM – Mark-to-market
- NBV – Net book value
- NCI – Non-controlling interest
- NI – Net income
- NRV – Net realizable value
- OCI – Other comprehensive income
- PAT – Profit after tax
- PBT – Profit before tax
- PCAOB – Public Company Accounting Oversight Board
- PO – Purchase order
- PP&E – Property, plant and equipment
- PPA – Purchase price allocation