What is Income or Profit & Loss Statement (P&L)?

An Income or Profit & Loss Statement (P&L) is a Financial Report that shows the total revenue and total expenses over a specific period of time, usually a month, fiscal quarter or an entire year. The profit shown on the bottom of the P&L should ALWAYS match the profit on the bottom of the corresponding Balance Sheet. Most importantly, one without the other is near worthless.

Audio Definition/Pronunciation

How to Easily Calculate and Improve Your Trucking Company Profit Margins

Just like any other business, your trucking company needs to run at a profi...
Read More


OTHER TERMS BEGINNING WITH "I"