Today's Market

updated 1 hour ago Sponsored by:
DOW 17,172.68 -107.06 -0.62%
S&P 500 1,994.29 -16.11 -0.80%
NASD 4,527.69 -52.10 -1.14%

Community: Investing Wiki

Term Of The Hour

income statement profit: Original post by Sue-Lynn Carty of Demand Media Profit and loss accounts illustrate whether a company made profits or incurred losses over the year. Profit and loss accounts allow companies to distinguish exactly which areas of their businesses contributed toward profits and which areas caused losses. Accountants summarize the profit and loss accounts on the company's income statement.

Want to learn more or edit this definition?
Click here to read more!