What is another word for profit and loss account?
Pronunciation: [pɹˈɒfɪt and lˈɒs ɐkˈa͡ʊnt] (IPA) 
A profit and loss account is also commonly referred to as an income statement or statement of operations. It is a financial statement that reports a company's revenues, expenses, and net income or loss for a specific period. Another synonym for a profit and loss account is a statement of comprehensive income. This statement presents all the revenues, gains, expenses, and losses that were recognized during the period not just those that affected the company's net income. Other synonyms include income and expense statement, statement of earnings, and operating statement. No matter what it is called, this financial statement is a crucial tool for investors, analysts, and management as it provides a window into the company's financial performance.
