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What is the difference between profit and loss account and cash flow statement?
Wiki User
∙ 15y ago
Cashflow : Only the actual cash spent / received will be entered. Credit will not be entered. Profit & loss : It is more of accrual basis, all transactions that are happening in that accounting period will be entered. Cashflow : Only the actual cash spent / received will be entered. Credit will not be entered. Profit & loss : It is more of accrual basis, all transactions that are happening in that accounting period will be entered.
Wiki User
∙ 15y ago
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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.
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 Difference between income statement and profit and loss account?
Both are sameIncome statement shows both operating and non-operating amounts. Revenue, Net profit/loss and profit per share. I think you are thinking of the Balance sheet that lists assets, liabilities and shareholders' equity.
What is the difference between profit and loss account and budget?
Budget is pre-facto and P&L is post-facto. Budget can be defined as projected Income/P&L statement.
What is the difference between profit and loss account and profit and loss appropiation account?
Profit and loss accont is used to calculate the profit or loss of business while profit and loss appropriation account is used to allocate or distribute net income or loss to share holders or different reserves account.
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.
Difference between Profit and loss account and Profit or loss account?
No difference. It is just a matter of symantics (different ways to say the same thing).
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 Difference between income statement and profit and loss account?
Both are sameIncome statement shows both operating and non-operating amounts. Revenue, Net profit/loss and profit per share. I think you are thinking of the Balance sheet that lists assets, liabilities and shareholders' equity.
What is the difference between profit and loss account and budget?
Budget is pre-facto and P&L is post-facto. Budget can be defined as projected Income/P&L statement.
What is the difference between profit and loss account and profit and loss appropiation account?
Profit and loss accont is used to calculate the profit or loss of business while profit and loss appropriation account is used to allocate or distribute net income or loss to share holders or different reserves account.
What is the difference between account receivable and accounts payable confirmation?
account receivable- money coming in for profit account payble-money going out for a expense
Are profit and loss account on an income statement or balance sheet?
Profit & Loss Account is the Statement showing indirect expenses and receivable of a Company where as Balance Sheet is the Statement highlighting Assets and Liabilities of the said Company.
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.
What is difference between non profit and not for profit?
There is no difference.
Difference between not for profit and non profit?
No difference.
how does income and expenses account difference from Profit and Loss Account?
Income and expense for not for profit organisations is same as profit and loss account but they cannot use the name profit and loss account because not for profit organisations are not formed to earn profit.
