profit and loss account

noun

1. income account.

Word History and Origins

Origin of profit and loss account¹

First recorded in 1720–30

Example Sentences

"How can anybody factor that in to their profit and loss account? To pick a figure out of the air, and say you've got to pay it, I think is unfair."

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The report said the company “elected not to include a copy of the profit and loss account.”

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Among the 22 principles for operational separation that accountancy firms should implement, audit practices should produce a separate profit and loss account.

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Douglas said the aircraft “not only makes sense economically from a profit and loss account point of view, but because it also directly impacts the CO2 because of the fuel burn.”

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Last week Patisserie Valerie confirmed it had found "extensive" misstatement of its accounts and "very significant manipulation of the balance sheet and profit and loss accounts".

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