What is p&l and how it works

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P&L stands for profit and loss statement, a financial report that shows a company's revenues, expenses, and profits over a specific period of time.

P&L statement is a financial document that summarizes a company's revenues, costs, and expenses during a specific period.
It helps in evaluating the financial performance of a business and determining its profitability.
The statement typically includes revenue, cost of goods sold, gross profit, operating expenses, net income, and other relevant financial metrics.
P&L statements are crucial for decision-making, budgeting, and forecasting in a restaurant or any other business.
For example, a restaurant manager can use the P&L statement to analyze the cost of ingredients, labor expenses, and overall profitability of the restaurant.

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