Profit And Loss Account Sample





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Profit

As noun

Often, profits

pecuniary gain resulting from the employment of capital in any transaction

Compare gross profit, net profit

the ratio of such pecuniary gain to the amount of capital invested

returns, proceeds, or revenue, as from property or investments

the monetary surplus left to a producer or employer after deducting wages, rent, cost of raw materials, etc

:The company works on a small margin of profit

advantage; benefit; gain

As verb (used without object)

to gain an advantage or benefit:He profited greatly from his schooling

to make a profit

to take advantage:to profit from the weaknesses of others

to be of service or benefit

to make progress

As verb (used with object)

to be of advantage or profit to:Nothing profits one so much as a sound education

And

As conjunction

(used to connect grammatically coordinate words, phrases, or clauses) along or together with; as well as; in addition to; besides; also; moreover:pens and pencils

added to; plus: and are

then:He read for an hour and went to bed

also, at the same time:to sleep and dream

then again; repeatedly:He coughed and coughed

(used to imply different qualities in things having the same name):There are bargains and bargains, so watch out

(used to introduce a sentence, implying continuation) also; then:And then it happened

Informal

to (used between two finite verbs):Try and do it

Call and see if she's home yet

(used to introduce a consequence or conditional result):He felt sick and decided to lie down for a while

Say one more word about it and I'll scream

but; on the contrary:He tried to run five miles and couldn't

They said they were about to leave and then stayed for two more hours

(used to connect alternatives):He felt that he was being forced to choose between his career and his family

(used to introduce a comment on the preceding clause):They don't like each other—and with good reason

Archaic

if:and you please

Compare an

As noun

an added condition, stipulation, detail, or particular:He accepted the job, no ands or buts about it

conjunction (def b)

As Idioms

and so forth, and the like; and others; et cetera:We discussed traveling, sightseeing, and so forth

and so on, and more things or others of a similar kind; and the like:It was a summer filled with parties, picnics, and so on

Loss

As noun

detriment, disadvantage, or deprivation from failure to keep, have, or get:to bear the loss of a robbery

something that is lost:The painting was the greatest loss from the robbery

an amount or number lost:The loss of life increased each day

the state of being deprived of or of being without something that one has had:the loss of old friends

death, or the fact of being dead:to mourn the loss of a grandparent

the accidental or inadvertent losing of something dropped, misplaced, stolen, etc

:to discover the loss of a document

a losing by defeat; failure to win:the loss of a bet

failure to make good use of something, as time; waste

failure to preserve or maintain:loss of engine speed at high altitudes

destruction or ruin:the loss of a ship by fire

a thing or a number of related things that are lost or destroyed to some extent:Most buildings in the burned district were a total loss

Military

the losing of soldiers by death, capture, etc

Often, losses

the number of soldiers so lost

Insurance

occurrence of an event, as death or damage of property, for which the insurer makes indemnity under the terms of a policy

Electricity

a measure of the power lost in a system, as by conversion to heat, expressed as a relation between power input and power output, as the ratio of or difference between the two quantities

As Idioms

at a loss, at less than cost; at a financial loss

in a state of bewilderment or uncertainty; puzzled; perplexed: We are completely at a loss for an answer to the problem

Account

As noun

an oral or written description of particular events or situations; narrative:an account of the meetings; an account of the trip

an explanatory statement of conduct, as to a superior

a statement of reasons, causes, etc

, explaining some event

reason; basis:On this account I'm refusing your offer

importance; worth; value; consequence:things of no account

estimation; judgment:In his account it was an excellent piece of work

an amount of money deposited with a bank, as in a checking or savings account:My account is now with Third National

Also called charge account

an accommodation or service extended by a business to a customer or client permitting the charging of goods or services, the returning for credit of unsatisfactory merchandise, etc

:Do you have an account at this store? My account with the restaurant is past due

a statement of financial transactions

Bookkeeping

a formal record of the debits and credits relating to the person, business, etc

, named at the head of the ledger account

a balance of a specified period's receipts and expenditures

Commerce

a business relation in which credit is used

any customer or client, especially one carried on a regular credit basis

Also called advertising account

the business assigned to an advertising agency by a client: The toothpaste account was awarded to a new agency last year

As verb (used without object)

to give an explanation (usually followed by for):to account for the accident

to answer concerning one's conduct, duties, etc

(usually followed by for):to account for the missing typewriters

to provide a report on money received, kept, and spent

to cause (usually followed by for):The humidity accounts for our discomfort

His reckless driving accounted for the accident

As verb (used with object)

to regard; consider as:I account myself well paid

to assign or impute (usually followed by to):the many virtues accounted to him

As Idioms

call to account, to hold accountable; blame; reprimand: Call them to account for having endangered their lives

ask for an explanation of

give a good / bad account of, to do something or conduct oneself in a good (bad, etc

) manner:She gave a good account of herself in the tennis tournament

hold to account, to hold responsible; hold accountable or culpable:If any of the silver is missing, I'm going to hold you to account

on account, as an installment or a partial payment:I can't pay the balance, but here's $ on account

on account of, by reason of; because of

for the sake of: She saw it through on account of me

on all accounts, in any case; under any circumstances

Also, at all accounts

on no account, under no circumstances; absolutely not:On no account should you buy that painting without having it appraised

take account of, to make allowance for; consider: One must take account of the difficult circumstances

Taking account of the high overhead, the price is not excessive

to notice or observe

Also, take into account

turn to account, to derive profit or use from; turn to advantage:She has turned her misfortunes to account

Sample

As noun

a small part of anything or one of a number, intended to show the quality, style, or nature of the whole; specimen

Statistics

a subset of a population:to study a sample of the total population

a sound of short duration, as a musical tone or a drumbeat, digitally stored in a synthesizer for playback

As adjective

serving as a specimen:a sample piece of cloth

As verb (used with object), sampled, sampling

to take a sample or samples of; test or judge by a sample

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