profit and loss account

noun

1. income account ( def 2 ).

Word History and Origins

Origin of profit and loss account¹

First recorded in 1720–30

Example Sentences

"How can anybody factor that in to their profit and loss account? To pick a figure out of the air, and say you've got to pay it, I think is unfair."

From BBC

The report said the company “elected not to include a copy of the profit and loss account.”

From Washington Post

Among the 22 principles for operational separation that accountancy firms should implement, audit practices should produce a separate profit and loss account.

From BBC

Douglas said the aircraft “not only makes sense economically from a profit and loss account point of view, but because it also directly impacts the CO2 because of the fuel burn.”

From Washington Times

Last week Patisserie Valerie confirmed it had found "extensive" misstatement of its accounts and "very significant manipulation of the balance sheet and profit and loss accounts".

From BBC