| Subject | English | Icelandic |
| math. | average loss | vænt tap |
| math. | average loss | áhættu |
| math. | average loss | meðaltal tap |
| math. | expected loss | vænt tap |
| math. | expected loss | meðaltal tap |
| math. | expected loss | áhættu |
| comp., MS | foreseeable loss | fyrirsjáanlegt tap (An expected loss on a project that is treated as an expense transaction because it is likely that the total project cost will exceed the total project revenue or capitalization limit) |
| math. | loss function | tapfall |
| math. | loss matrix | tap fylki |
| stat. | loss of information | tap á upplýsingum |
| math. | loss of information | tap т upplýsingum |
| comp., MS | profit and loss account | rekstrarreikningur (A revenue or expense account whose balance will be transferred to a retained earnings account at the end of a fiscal year. Balances in profit and loss accounts determine the net income or net loss for the year) |
| comp., MS | profit and loss statement | rekstraryfirlit (A report that summarizes a company's costs, expenses, and revenues for a specific accounting period) |
| comp., MS | profit and loss transaction | rekstrarfærsla (A posted ledger transaction that is associated with a profit and loss account, revenue account, or cost account) |
| comp., MS | realized loss | innleyst tap (The decrease in the value of an asset calculated as the difference in the value of the asset when two economic events occur and when the difference is recognized on the occurrence of the second event as a reduction in wealth) |
| comp., MS | unrealized loss | óinnleyst tap (The anticipated decrease in the value of an asset calculated as the difference in the value of the asset when two economic events occur and when the difference is recognized on the occurrence of the second event as an anticipated reduction in wealth) |