The P&L (also called the Income Statement) is structured as: Revenue → Gross Profit (after COGS) → Operating Profit (after operating expenses) → Net Profit (after interest, depreciation, and tax). It covers a period — a month, a quarter, or a year. For UAE corporate tax filing, the annual P&L is the starting point for calculating taxable income. For bank loan applications, lenders will typically request two to three years of P&Ls to assess profitability trends. For investor pitches, the P&L is the first financial document reviewed.
See also: Gross Profit, Net Profit, Financial Statements, Taxable Income
