1. A statement showing a company's income and expenditure over a period of time, usually one year. Part of the financial statements of the company. Dresdner Kleinwort Wasserstein financial glossary
2. A reserve in a company's balance sheet, representing the accumulated profits which a company has generated since its incorporation. Dresdner Kleinwort Wasserstein financial glossary
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The profit and loss account is an important part of a company's annual accounts and gives the details of the company's trading performance for the previous financial year. Financial Services Glossary
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A summary of all the expenditure and income of a company over a set period of time. Also called an income statement.
Financial and business terms. 2012.