DEFINITION
A profit and loss statement summarizes a business's revenue, costs, and expenses over a period, showing net profit or loss.
Lenders often request a year-end P&L and a year-to-date P&L for larger requests.
GLOSSARY
A profit and loss statement summarizes a business's revenue, costs, and expenses over a period, showing net profit or loss.
Lenders often request a year-end P&L and a year-to-date P&L for larger requests.