2006-10-03 04:02:08 · 6 answers · asked by Romaro 1 in Education & Reference ➔ Financial Aid
The Profit and Loss (P&L) Statement is also known as the Income Statement. It shows how well a company buys and sells inventory (or services) to make a profit.
2006-10-03 04:21:30 · answer #1 · answered by Anonymous · 0⤊ 0⤋
the income statement is an account that you open at the end of the to cancel the balance like sales, advertising. etc
and the profit and loss are the difference between the profit and the expenses
2006-10-03 04:05:55 · answer #2 · answered by kaiser v 1 · 0⤊ 1⤋
I'm an accountant. There is no difference. Some people call it a "P & L" Some people call it an "Income Statement" Same thing.
2006-10-03 04:05:19 · answer #3 · answered by jim 6 · 0⤊ 0⤋
splendid call of 2d assertion is "earnings & Expenditure Account". the two the assertion are time-honored comparable in thought yet are prepred via differant form of enterprise. as an occasion a paying for and advertising or a commericial difficulty practice earnings & Loss Account and a charitable or college practice earnings & Expenditure Account. purpose of the two assertion is to calculated earnings or loss or extra or deficiancy.
2016-12-26 08:17:07 · answer #4 · answered by Anonymous · 0⤊ 0⤋
They are the same document.
2006-10-03 11:44:51 · answer #5 · answered by Liz 3 · 0⤊ 0⤋
nothing. they are the same.
2006-10-03 04:04:34 · answer #6 · answered by loveholio 5 · 0⤊ 0⤋