What is the p and l

The P&L, or profit and loss, statement is a financial document that summarizes a company's revenues, costs, expenses, and profits/losses during a specified period. It is also known as an income statement. This document is important for evaluating a company's ability to generate revenues, manage costs, and make profits. The P&L statement follows a specific format and is used by public companies to meet legal reporting requirements and inform investors. It provides a comprehensive view of a company's financial circumstances, including its revenues, expenses, and profitability.