What do a.m. and p.m. stand for?

profit and loss

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.
Origin of profit and loss
1580-90 Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2015.
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Examples from the web for profit and loss
  • Close all profit and loss accounts to a single retained earnings account in total for a business unit.
  • All other items of profit and loss recognized during a year shall be included in the determination of net income for that year.
  • Each member reports individual share of profit and loss on their individual income tax returns.
  • But, unlike hedge funds, sovereign-wealth funds are not necessarily driven by the pressures of profit and loss.
  • They teeter between profit and loss, winning and losing, loving and hating.
  • Reviews profit and loss statements and recommends actions to maintain adequate profit margin.
  • These statements consist of a balance sheet and a profit and loss statement.
British Dictionary definitions for profit and loss

profit and loss

(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
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