profit and loss


noun

the gain and loss arising from commercial or other transactions, applied especially to an account or statement of account in bookkeeping showing gains and losses in business.

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Origin of profit and loss

First recorded in 1580–90
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2020

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British Dictionary definitions for profit and loss

profit and loss

noun

accounting an account compiled at the end of a financial year showing that year's revenue and expense items and indicating gross and net profit or loss
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012