Also known as an “income statement,” a profit and loss statement contains a business' costs, revenues, and expenses for a specific length of time.

1. What Are Profit
and Loss
Statements?

2. About Peter Culpepper
A financial executive for nearly two
decades and a certified public
accountant, Pete Culpepper has often
in his career performed profit and loss
reporting and accountability. Currently
the chief financial officer of Provectus
Pharmaceuticals, Inc., Pete Culpepper
oversees his firm's U.S. Securities and
Exchange Commission filings, offers
recommendations to the board of
directors, and is responsible for a profit
and loss statement that exceeds $5
million.

3. What Are Profit and Loss
Statements?
Also known as an “income statement,” a profit and
loss statement contains a business' costs, revenues,
and expenses for a specific length of time. When this
information is put in an easy-to-read format,
executives are able to study different parts of a
company and see how they perform. Many profit and
loss statements start with the revenue at the top and
record the costs of doing business, such as operating
expenses and taxes, below it. Usually, net income
appears on the bottom line. This total can be either a
profit or a loss depending on whether the company’s
revenue exceeded costs or vice versa.