Profit and Loss

The Bigger Picture In Selling Your Business

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What Does Profit and Loss (or P&L) Mean?

Profit and Loss (P&L) is a financial report of a company detailing its revenue, costs and other expense items to show its net profit or loss for a specified accounting period – usually a quarter or a year. The profit and loss statement is one of the major ways of empirically assessing a company’s financial performance over specific periods covered by it.

Net profit is colloquially referred to as the bottom line because of its base location on the income statement.

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