Balance Sheet vs. Profit and Loss Statement: An Overview . The balance sheet and the profit and loss (P&L) statements are regularly issued by companies.

What Are the Differences of the Balance Sheet and Profit and Loss Statement?. Balance sheets and income statements are the two most important financial reports business managers need to run their ...

How to Adjust the Balance on a Profit and Loss Report. A profit and loss statement, or income statement, records a company's revenues, expenses and overall gains or losses.