A profit and loss statement summarizes a company's revenues and expenses during a given time period. Learn why this is important for your portfolio.

Balance Sheet vs. Profit and Loss Statement: ... The income statement, also known as the profit and loss statement, shows where a company's profits and expenses came from and went over the period.

The same steel manufacturing company could conceivably lower its production costs in subsequent years, which would turn the initial economic loss to a long-term economic profit. If manufacturing ...

Learn what an income statement is, its key components (revenue, expenses, profit), and why it's important for financial analysis.

When understanding a company report, we need to know the meaning behind all the income, expense, and profit figures. Discover more with The Motley Fool UK.