![]() ![]() Net Revenue Net Revenue Net revenue refers to a company's sales realization acquired after deducting all the directly related selling expenses such as discount, return and other such costs from the gross sales revenue it generated.But the P&L Account must include these items: There is no particular format for P&L Account under GAAP GAAP GAAP (Generally Accepted Accounting Principles) are standardized guidelines for accounting and financial reporting. The stage at which Profit & Loss Account is preparedĬontents of Profit and Loss Statement Format read more, earnings statement, financial results or income, or expense statement. It is also known as the statement of operations Statement Of Operations Statement of Operations, also known as the income statement, displays a Company’s revenues & expenditures for a specified period, i.e., monthly, quarterly, or annually in a standard accounting format in accordance with the accounting policies suggested by the governing body. read more and P&L Accounts are used interchangeably. ![]() Income Statements Income Statements The income statement is one of the company's financial reports that summarizes all of the company's revenues and expenses over time in order to determine the company's profit or loss and measure its business activity over time based on user requirements. It is impossible to provide a complete set of examples that address every variation in every situation since there are thousands of such Profit and Loss Statements formats based on geography, accounting policies, etc. The following Profit and Loss Statement Format outlines the most common Income Statement.
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