The P&J

The P&J, or Profit and Loss statement, is a financial report that shows a company's revenues, expenses, and net profit or loss over a specific period. It helps assess how well the business is performing by highlighting income sources and costs. Revenues are the money earned from sales or services, while expenses include costs like wages, rent, and supplies. Subtracting expenses from revenues reveals whether the company made a profit or incurred a loss. The P&J is a key tool for management, investors, and lenders to understand financial health and make informed decisions.