Shutterstock A company’s statement of income is often called its profit and loss (P&L) statement. It lists revenues, expenses, and net profit for the period covered. There are typically ...

Can an accountant do a profit and loss statement? A certified income statement requires ... Certified public accountants (CPAs) typically charge $176 for preparing and submitting Forms 1040 and state ...

This is the final part of the profit and loss account. If the net profit figure is negative, the business has made a loss.

When a company makes money after it pays all its costs, it is said to have made a profit. If a company does not make enough money to cover all its costs, it is said to have made a loss.