Profit and Loss Statement
P&L
Beginner Level
Global
Accounting
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Definition
A financial statement summarizing revenues, costs, and expenses over a period to show net profit or loss.
Detailed Explanation
Also called Income Statement. Shows revenue, COGS, gross profit, operating expenses, EBITDA, depreciation, interest, taxes, and net income. Essential for understanding business performance.
Example
A company's P&L shows ₹50 crore revenue, ₹30 crore expenses, and ₹20 crore profit.