Profit & loss account
Final accounts: The profit & loss account (AO2, AO4) "Money can't buy happiness but it can make you awfully comfortable while you're miserable"- Clare Boothe Luce (1903 - 1987), American author and politician The profit and loss account shows a firm’s profit (or loss) after all production costs have been subtracted from the organization’s revenues, each year. It is also known as the statement of profit or loss or...