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
Not paying taxes legally due the government. Examples are the failure to report rental income received and claiming false deductions on real estate holdings. The penalty for tax fraud is ...
Same as term legal description: A description of real property including metes and bounds, government rectangular survey, or lot numbers of a recorded plat. All property deeds have a legal ...
Right of a property owner located adjacent to an airfield to use the airspace above a certain distance to fly an airplane. However, the owner may not be allowed to put structures, signs or ...
Cash payment to a lender so as to lower the interest rate on a loan a borrower must incur. The lower rate may apply for all or a part of the loan term. ...
In order to define the rate of return on investment, or more commonly known as ROI we are also going to explain how it can be calculated and what to look for in the return rate. Investing ...
Payment of the minimum tax by using legal tax planning opportunities such as estate planning. The use of tax avoidance strategies is a sound approach to retaining cash flow. On the other ...
A federal act requiring potential purchasers and lessees of undeveloped land be provide with all necessary information required to make an informed decision regarding the desirability of ...
Cost excluded from the minimum lease payments to be made by the lessee in a capital lease. The lessee reimburses the lessor for the lessor's expense payments. ...
When someone throws around the term “mobile home”, it almost requires further explanation to fully understand what that person is talking about. Why is that? Well, one mobile ...
Have a question or comment?
We're here to help.