It all started last month: our series "KTfKK - Plain text for law firm abbreviations". Because let's be honest - German tax law is often complicated enough. You should at least understand your own tax advisor, right? 😉

So the next time you find yourself at a loss for words, our section will help.

Today: P&L.

What do you think your tax advisor actually means when he talks about P&L?

1. secrets and cover-ups?
2. completely opaque confusion?
3. look and despair?

Don't worry - the solution is more harmless ... and much more useful: P&L stands for Profit and loss account.
It is part of the annual financial statements and shows the income and expenses incurred during the financial year.

The decisive factor: The P&L reveals whether you Profit or Loss and is therefore a key indicator of the economic success of your company.

👉 Plain language instead of law firm gibberish? At WSB, we translate tax German - and advise you in an understandable way: 
www.wsb-berater.de/kontakt

#Law firm abbreviation #Clear text #GuV #ProfitAndLoss #Annual financial statements #TTax consultancy #WSB