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Tags: accounting
Categories: Economics & Finance
A financial statement that summarizes the revenues, costs and expenses incurred during a specific period of time – usually a fiscal quarter or year. These records provide information that shows the ability of a company to generate profit by increasing revenue and reducing costs. The P&L statement is also known as a «statement of profit and loss», an «income statement» or an «income and expense statement».
(Read more: http://www.investopedia.com/terms/p/plstatement.asp#ixzz2JYkWHCFb)
