The profit and loss statement (in Polish Rachunek Zysków i Strat, RZiS) is a component of the financial statements. It presents a company’s revenues and costs over a given period, usually a year or a quarter. Its main purpose is to assess the profitability and efficiency of business operations. Uses of the profit and loss statement: Profitability assessment – enables analysis of the profitability of a given period and comparison of results with previous years. Financial planning – helps in making decisions on investments, savings, and development. Financial reporting – an essential document for auditing purposes and for stakeholders (e.g. investors, shareholders).