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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 MatchesStatement of Financial Accounting Standards No 52Statement of Financial Accounting Standards No 52The currency translation standard currently used by US firms. It mandates the use of the current rate method. See: Statement of Financial Accounting Standards No. 8. Opportunity StatementOpportunity StatementA concise description of a process in need of improvement, its boundaries, and the general area of concern where a CQI Team should begin its efforts. 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. Copy statementCopy statementThis is an additional statement of your mortgage account. You are usually charged by your lender when you request a copy of an annual statement previously issued or when you request a statement outside of the normal annual statement period. Costs £10 - £20 Official statementOfficial statementA statement published by an issuer of a new municipal security describing itself and the issue. Further SuggestionsSources and applications of funds statementPercentage financial statement Statement of Additional Information (SAI) Closing Statement Annual mortgagor statement Statement of condition Reinstatement Offset Statement Statement of Financial Accounting Standards No 8 Uniform Settlement Statement Offering statement Notes to the financial statements Reinstatement Completion statement Disposition of Real Estate Statement Pro forma statement statement of account Combined financial statement Reinstatement value Income statement (statement of operations) Statement billing Financial Statement bank statement Redemption statement Account statement |
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