P&L
In accounting, P&L means performance over a period.
- Layer
- Lexicon
- Defined in
- Lexicon
- Also called
- Income statement
- Components
- 7
Authority
This definition follows ASC 220.
Every citation in this system, with the text we read and the date we checked it, is in US GAAP and where these rules come from.
The lesson that teaches this
Accounting, 0 to 1 — a free course taught end to end on one month of one company, with the spreadsheet exercises to work it yourself.
P&L, in use
Quoted from the 14 documents that use the word — what it does to an interface, in the spec's own sentence.
Non-controlling interest appears on both statements — as a component of equity on the balance sheet, and as an allocation of net income on the P&L.
The one object all three broadly agree on, and still the one that most often breaks the P&L.
Lopifi APIs: Xero, QuickBooks Online, NetSuite — 3. Chart of accounts
P&L, balance sheet, and cash flow are all configurations of this.
For founders
The same idea written for a founder: what it costs a startup that ignores it, and what to do in a real month.
- Income statementRevenue less expenses for a period. Also called the profit and loss statement, or P&L.
- How to read an income statement (P&L)Revenue, cost of revenue, gross margin, operating expenses and net income, read line by line, on accrual basis, with the mistakes founders make most.
- Chart of accounts for startups: a starting templateA starting chart of accounts for a US startup: number ranges, the expense accounts you need, and when to add an account versus a class or tracking tag.
- Cash flow statement explained: why profit isn’t cashHow the cash flow statement starts at net income, adds back non-cash costs and working capital, splits three activities and ties to the balance sheet.
What it is not called
Each of these is a real word for a different thing. Using it here is what makes a product read as though it was built by someone who has not done the work.
- profit report
Components that render this
The concept is not documentation-only. These are the components that name it in their specification, grouped and stated exactly as the catalog states them.
Terms this one depends on
Also in Statements
Work with this concept
The calculators that compute it and the ledger payloads that carry it. A definition is where a reader starts; these are where they go next.
Defined in Lexicon. This page is generated from that document, so the two cannot disagree.