3 Profit and loss (P&L)
‘Between calculated risk and reckless decision-making lies the dividing line between profit and loss’
Charles Duhigg, journalist and non-fiction author
In a nutshell
The P&L (‘profit and loss account’) or ‘income statement’ is one of the primary financial statements prepared by a company. It shows a company’s financial performance over time.
The purpose of a P&L is to show the profit (or loss) made by an organisation over time, typically a year. The P&L shows the income earned and expenditure incurred to generate either profit or loss.
Need to know 
The P&L records the financial activities of a business over a period ...
Get The Finance Book, 2nd Edition now with the O’Reilly learning platform.
O’Reilly members experience books, live events, courses curated by job role, and more from O’Reilly and nearly 200 top publishers.
