profit and loss

noun

Definition of profit and loss

: a summary account used at the end of an accounting period to collect the balances of the nominal accounts so that the net profit or loss may be shown

Examples of profit and loss in a Sentence

Recent Examples on the Web Hershey regularly goes through every line of its profit and loss statement, its finance chief says. Nina Trentmann, WSJ, 6 Sep. 2022 Hyman reviewed the reports, then decided how to manage profit and loss at each home. Yasmin Rafiei, The New Yorker, 25 Aug. 2022 In a nutshell, TV shows produced for Disney or Netflix are no longer treated as individual businesses with their own income statements and profit and loss reports. Cynthia Littleton, Variety, 21 July 2022 Also, take a look at your accounting reports (e.g., profit and loss statements, balance sheets, etc.) and budget. Mike Kappel, Forbes, 15 July 2022 Small companies often budget their profit and loss, but not their cash flow. Expert Panel®, Forbes, 13 May 2022 Long-term forecasting projects a financial picture that extends from one to five years and commonly relies on data from three standard financial reports, including a profit and loss statement, balance sheet and cash flow statement. Nick Chandi, Forbes, 28 June 2022 One of the most critical assets to a successful business in any industry is an accurate profit and loss (P&L) spreadsheet. Kale Goodman, Forbes, 5 May 2022 Ensure the team is well integrated and not working in isolation away from the business management stakeholders who are directly responsible for profit and loss. Expert Panel®, Forbes, 7 Mar. 2022 See More

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'profit and loss.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

First Known Use of profit and loss

1553, in the meaning defined above

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Time Traveler for profit and loss

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The first known use of profit and loss was in 1553

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Dictionary Entries Near profit and loss

profitable

profit and loss

profit and loss statement

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Statistics for profit and loss

Last Updated

22 Sep 2022

Cite this Entry

“Profit and loss.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/profit%20and%20loss. Accessed 27 Sep. 2022.

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