profit and loss account
- noun
- UK
:
cuenta de pérdidas y ganancias
- Investors want to see the profit and loss account before deciding to invest in the company.
Examples
-
We created a profit-and-loss account for each area, which essentially meant there would be companies within a company.
Blog text (24) -
All companies in Malaysia are required by law to file an annual report, which must include their profit and loss account, a list of shareholders and directors, and a statement by the chairperson on key corporate events.
Academic text (2018) -
At the end of the fiscal year, we carefully reviewed our profit and loss account to assess the company's financial health.
-
My accountant prepared a detailed profit and loss account that outlined all of our revenue and expenses over the past year.
Synonyms
3
3.6
A report showing a company's money received, costs, and profit or loss over time
3
3.4
A record that shows a company's income, costs, and net profit or loss
2
4.1
A report that shows how much money a company made and spent during a period
How Detailed
- Formal
45
4.9
- UK
- Specialized
18
3.6
397
2.7
Surface Forms
Morphology
The meaning is directly compositional: 'account' (a record) qualified by the contents 'profit and loss' clearly signals a record showing profits and losses. This construction is literal and similar across many languages (and only varies in wording, e.g. 'profit and loss statement' or 'income statement'), so a B1 learner who knows the constituents will readily infer the meaning.
Etymology
Profit and loss account is a written account that lists a company's profit and loss over a set time. It gives a simple picture of whether the business 'made money' or 'lost money', so it is used to 'show' the company's result at the end of the year.