Surplus or deficit is a term used by nonprofits. It’s also called profit and loss statement or an income statement in for-profit plans.
An income statement is a financial statement that shows funding, cost of funding, gross surplus, operating expenses, and surplus or deficit. Gross surplus is funding less cost of funding, and surplus (or deficit) is gross surplus less operating expenses and taxes. The result is surplus if it is positive, deficit if it is negative.
For more on nonprofits, see How to Write a Nonprofit Business Plan and How to Use LivePlan for Your Nonprofit Business Plan.