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.
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.
account receivable- money coming in for profit account payble-money going out for a expense
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.
The difference between profit making accounting and not for profit making accounting is, that question should answer itself! 8^0
its when a partnership business draws up an Appropriation Account to show how the net profit is shared out between the partners
No difference. It is just a matter of symantics (different ways to say the same thing).
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.
account receivable- money coming in for profit account payble-money going out for a expense
No difference.
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.
What is difference between trust run and for-profit hospitals
No difference. They mean the same thing.
No difference. They mean the same thing.
There is not difference; they mean the same thing.
Profit and loss is nothing but an statements which shows the net profit and net loss during a period.
difrent between profit and divident
To withdraw profit from stocks, you can sell the stocks you own at a higher price than what you paid for them. This difference between the selling price and the purchase price is your profit. You can then transfer this profit to your bank account or reinvest it in other stocks.