profit-and-loss statement


Also found in: Dictionary, Financial.
Related to profit-and-loss statement: income statement
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Synonyms for profit-and-loss statement

a financial statement that gives operating results for a specific period

References in periodicals archive ?
Divisional profit-and-loss statements may have multiple formats within a single business line that crosses over multiple partnerships or corporations, some of which may not be controlled.
For example, some business unit profit-and-loss statements will include corporate general and administrative (G & A) expense (overhead) allocations; other business unit profit-and-loss statements will exclude G & A expense and focus instead on direct costs of production, distribution, and marketing; still other business unit profit-and-loss statements will allocate some G & A expenses but not others.
The separate-line-of-business payroll can be defined as the compensation expense (whether reported as part of cost of goods or "below the line") included by management in its divisional or business unit profit-and-loss statements. Given the substantial non-tax management purposes served by such profit and loss statements, it is unlikely an employer would manipulate its compensation expense simply for purposes of the test.