profit-and-loss account

noun [C] UK (abbreviation P and L account, P and L, P & L, also revenue account, US profit and loss statement)

Definition

› ACCOUNTING, FINANCE a document that shows a company's profit or loss in a particular period: This loss would be shown as a charge in the profit and loss account. → See also earnings report, income statement → Compare income and expenditure account

(Definition of profit-and-loss account noun from the Cambridge Business English Dictionary © Cambridge University Press)