Profit-and-loss or income statements provide a reference for company solvency. Online businesses do not incur as many categories of expenses, so the profit-and-loss statement is slightly different ...

The income statement summarizes the total revenue, expenses and profit or loss incurred during the period covered. A balance sheet does not involve time periods similar to income statements.

What is a P&L statement? A P&L statement is a financial report that summarizes a company’s revenue, expenses and profit or loss over a fiscal year or quarter. When you read a P&L statement, you’ll see ...

Also called a Profit and Loss (P&L) Statement or a statement of revenue and expense, the income statement is one of three major documents, along with the cash flow statement and the balance sheet ...