imported>Doug Williamson |
imported>Doug Williamson |
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| ''Financial reporting''.
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| (P&L or PL or PNL).
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| 1. | | 1. |
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| Historically, a primary financial statement – showing the revenues earned in a period matched with the expenditures incurred in the same period to arrive at a figure of net profit or loss.
| | A second round, or phase, of quantitative easing. |
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| Under the 'double entry' accounting convention, income items in the Profit and loss account are Credits (CR) and expenses are Debits (DR).
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| A net profit is a Credit in the Profit and loss account.
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| A net loss is a Debit in the Profit and loss account.
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| Under International Accounting Standards the profit and loss account is superseded by the Statement of profit or loss and other comprehensive income.
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| 2. | | 2. |
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| Historically, another name for the Profit and Loss reserve in the balance sheet.
| | Queen Elizabeth the Second - more commonly the ocean liner of this name. |
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| Net profits or losses <u>for the period</u> in the Profit and loss account feed through in turn to the Shareholders' funds (<u>cumulative</u> retained profits or losses) in the 'bottom half' - reserves section - of the Balance sheet (as <u>at the end of the period</u>).
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| == See also == | | == See also == |
| * [[Accruals concept]] | | * [[QE1]] |
| * [[Attributable profit]] | | * [[QE3]] |
| * [[Balance sheet]] | | * [[QE4]] |
| * [[Cashflow statement]] | | * [[Quantitative easing ]] |
| * [[Credit balance]]
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| * [[Debit balance]]
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| * [[Financial reporting]]
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| * [[Financial statements]]
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| * [[Income statement]]
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| * [[International Accounting Standards]]
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| * [[Loss]]
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| * [[Profit]]
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| * [[Profit and Loss reserve]]
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| * [[Statement of profit or loss and other comprehensive income]]
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| [[Category:Accounting,_tax_and_regulation]] | | [[Category:The_business_context]] |
| | [[Category:Identify_and_assess_risks]] |
| | [[Category:Manage_risks]] |
| | [[Category:Financial_products_and_markets]] |
