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In a Profit and Loss Account, you put income tax that you pay to the government in the third section, the appropriation account.
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What is statement of profit or loss?
A statement of profit and loss is the business income and expense statement which sumarises the total income and expenses coming to the total profit (or loss) of the business which is the defference between the income and expenses.
What is another name for profit and loss statement?
income statement
Difference between Income statement and Profit and loss account?
Income statement shows only income of the concern in a particular period but Profit and loss statement shows both income and expenditure of a firm or concern for a particular period as well as it helps to know the performance of the organisation....
What is trading account and profit and loss account?
That is known as the income statement or can by IAS1 it's known as the statement of comprehensive income.
Single step income statement?
single step income statement is one of two formats in which only one subtraction is done to arrive at net profit or loss as follows:Net profit or loss = revenues - expenses
What is statement of profit or loss?
A statement of profit and loss is the business income and expense statement which sumarises the total income and expenses coming to the total profit (or loss) of the business which is the defference between the income and expenses.
What is another name for profit and loss statement?
income statement
What was the income statement previously called?
The Income Statement is also called the P&L (Profit and Loss) Statement.
What does the Income Statement measure?
Income statement measures the amount of net profit or net loss related to specific fiscal year of business.
What is a trading profit and loss account?
That is known as the income statement or can by IAS1 it's known as the statement of comprehensive income.
Difference between Income statement and Profit and loss account?
Income statement shows only income of the concern in a particular period but Profit and loss statement shows both income and expenditure of a firm or concern for a particular period as well as it helps to know the performance of the organisation....
Which statement indicates that the company earned a net income?
Profit and loss
What is trading account and profit and loss account?
That is known as the income statement or can by IAS1 it's known as the statement of comprehensive income.
Single step income statement?
single step income statement is one of two formats in which only one subtraction is done to arrive at net profit or loss as follows:Net profit or loss = revenues - expenses
What are the advantages and disadvantages of the profit and loss method?
Not sure what you're asking - a "Profit and Loss" is a slang name / jargon for an Income Statement.
What is difference between P and L statement and income and expenditure statement?
Income and expenditure account is used by not for profit companies as they are formed for not for profit basis that's why they cannot use profit and loss account.
Do P and l refers to the income statement?
P and L refers to Profit and loss Account and yes its another name for Income statement
