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Profit and loss statement (P&L) |
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Profit and loss statement (P&L)A set of accounts, usually prepared annually, which depict a company's trading performance and are normally read in conjunction with the balance sheet and cash flow data. The profit and loss account can broadly be shown as follows:Turnover (sales) less manufacturing costs (or cost of sales if for example a retailing company) = gross profit or lossGross profit plus any non-trading income less operating costs = operating profit Operating profit less interest payments on bank loans or loan stock = profit before tax (pre tax profit)Pre-tax profit, less tax = net profit after taxPart of the net profit after tax may be used to pay a dividend with the balance being retained within the business for future investment.Similar MatchesClosing StatementClosing StatementA summary, in the form of a balance sheet, showing the amounts of debits and credits to which each party to a real estate transaction is entitled upon closing. Statement of Cash Flows MethodStatement of Cash Flows MethodA method of cash budgeting that is organized along the lines of the statement of cash budgeting. Statement billingStatement billingBilling method in which the sales for a period such as a month (for which a customer also receives invoices) are collected into a single statement, and the customer must pay all the invoices represented on the statement. ReinstatementReinstatement(1) Payment of a note, mortgage, deed of trust, etc., to bring it from default to good standing. (2) Restoring the previously used entitlement of a veteran to enable the veteran to purchase property under a VA program. (Also called Restoration of Eligibility). Annual mortgagor statementAnnual mortgagor statementA yearly statement to borrowers that details the remaining principal and amounts paid for taxes and interest. Further SuggestionsAccount statementFinancial Statement Offering statement Official statement Completion statement statement of account Purpose statement Reinstatement Pro forma statement Income statement (statement of operations) Reinstatement value Consolidated financial statement Disposition of Real Estate Statement Combined financial statement Uniform Settlement Statement Statement of Financial Accounting Standards No 8 Percentage financial statement Statement of condition Notes to the financial statements Sources and applications of funds statement Redemption statement bank statement Statement of Additional Information (SAI) Opportunity Statement Copy statement |
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