profit and loss

English edit

profit and loss (uncountable)

A profit-and-loss statement; an income statement.
- 2022 November 16, Christian Wolmar, “Can Merriman use his rail knowledge to make a difference?”, in RAIL, number 970, page 45:
  That's far from the promised land set out in the Williams-Shapps Plan for Rail, that the railways would have a guiding mind that would be in control of the industry's finances. Businesses have what is called a profit and loss account, showing both revenue and costs, but the current situation means that the two sides of the system are in different hands - and neither is (as yet) in the hands of a 'guiding mind'.