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What is difference between P and L statement and income and expenditure statement?

Anonymous

∙ 12y ago

Updated: 9/18/2023

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.

Wiki User

∙ 12y ago

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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 the net cash flow?

Net cash flow is the difference between income and expenditure.

Difference between receipts and payments account and income and expenditure account?

what is the different between error of transposition and casting

What is the difference between income tax expense and income tax payable?

Income statement & balance sheet.

What is between revenue and expenditure?

revenue is income and expenditure is an expense

Related Questions

What is the difference between income and expenditure incurred?

Inflow of money is income . Outflow of money is expenditure

What is the difference between capital income and capital expenditure?

Income is money coming in, expenditure is money going out (spending).

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....

Distinquish between savings and financial surplus?

This is the difference between Income and Expenditure in a non-profit making business, where the income exceeds expenditure

Which financial statement summarises income and expenditure?

income statement

What is net flow?

Net cash flow is the difference between income and expenditure.

What is the net flow?

Net cash flow is the difference between income and expenditure.

What is income expenditure?

A statement that records the income and expenditure of an organization such as a charity,whose main purpose is not the generation of profit.

What is the net cash flow?

Net cash flow is the difference between income and expenditure.

Difference between receipts and payments account and income and expenditure account?

what is the different between error of transposition and casting

What is the difference between income tax expense and income tax payable?

Income statement & balance sheet.

What is between revenue and expenditure?

revenue is income and expenditure is an expense

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