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

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Former Starbucks executive Deidra Wager, who started at Starbucks in 1992, remembers Mr. Smith, who was then chief financial officer, at his desk, yellow legal pad in hand, doing manual profit and loss analysis with a pencil. Rachel Lerman, The Seattle Times, "Former Starbucks CEO, UW Regent Orin Smith dies at 75," 3 Mar. 2018 Buffet & Dimon's argument seems targeted at companies that have relatively predictable profits and losses. Phillip Molnar, sandiegouniontribune.com, "Should companies end quarterly earnings guidance?," 15 June 2018 The investor’s net results can include both profits and losses. Laura Saunders, WSJ, "The ‘Tax-Free’ Investment Causing Massive Tax Headaches," 25 May 2018 The second is its Farm Management System enabling farmers to create profit and loss statements (P&L) tracking every dollar spent and earned in each field of corn or soybeans. Shawn Tully, Fortune, "This Agriculture Giant Is Bringing in the Drones to Modernize Farming From Cornfields to Vineyards," 19 June 2018 The company is also known for its abundance of training opportunities, with 60 to 70 opportunities available each month, from profit and loss statements to how to hire support staff. Michael L. Jackson, Indianapolis Star, "Top Workplaces 2018: Keller Williams Realty," 10 June 2018 Patterson decided to use the cafe as an open book incubator, training the servers and baristas how to read profit and loss statements, and giving them financial incentives to cut costs and increase sales. Janelle Nanos, BostonGlobe.com, "For more Boston restaurants, staying in business means being an open book," 8 June 2018 To get the mortgages, the government contends, Manafort and Gates concocted fake profit and loss statements that inflated their income. Marc Fisher, Washington Post, "Inside the Manafort money machine: A decade of influence-peddling, lavish spending and alleged fraud," 23 Feb. 2018 The president would only get reports with the most basic details about the company — like its overall profits and losses. Washington Post, "Nine questions about President Trump’s businesses and possible conflicts of interest," 6 Mar. 2018

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.

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First Known Use of profit and loss

1553, in the meaning defined above

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Last Updated

30 Sep 2018

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The first known use of profit and loss was in 1553

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