Profit And Loss Statement
Definition of "Profit and loss statement"
Same as term income statement: Also called profit and loss statement. A financial statement depicting a business entity's operating performance and reports the components of net income, including sales of real estate, rental income, operating rental expenses, income from rental operations, and income before tax. The income statement shows the cash flow for an entire accounting period, usually a quarter. The income statement is included in the annual report of the real estate corporation.
Popular Real Estate Terms
What remains after something is removed, such as substances left after a pollution treatment facility is removed. ...
Individual or entity who pays for the professional services of another person or business. ...
Request of a local government's planning body to alter the zoning requirements based on a justifiable reason. ...
Any written evidence or tangible material which can be reproduced as written material which is coherent and related to the subject at hand. This includes documents, contracts, inscriptions ...
Under current tax law, real estate is depreciated under either the straight-line method or modified accelerated cost recovery system (MACRS) method. See also MACRS. ...
The Ellwood method based on a multiplier of mortgage-equity to determine the value of income-producing property. ...
Apartment building in which each resident owns a percentage share of the corporation that owns the building. ...
Wood sheeting made from gluing together at lest three layers of veneer. The grain is placed at right angles with each adjoining layer's providing additional strength. ...
Sewer system built into the streets of a neighborhood that is capable of accommodating the excess water flow of a heavy storm without backing up or flooding. ...
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