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Advantages and disadvantages of trading profit and loss account?
: Profit and loss account gives the actual information about net profit or net loss of the business for an accounting period, Profit and loss account gives the actual information about indirect expenses, Profit and loss account serves to show the ratio between net profit to sales, Profit and loss account helps in showing the ratio between net profit to operating expenses, Profit and loss account helps in controlling indirect expenses
If the income of a business exceeds its costs the money that remains is called the?
profit
How do you calculate profit margin ratio?
net profit/sales
Formula to calculate gross profit?
HOW DID I GET HERE I WAS SEARCHING FOR THE ANSWERS FOR A GAME WTH
What is a principle of basic financial management?
The basic principle is this. Income exceeds expenditure = PROFIT Expenditure exceeds income = LOSS No profit or loss = BREAK-EVEN
What is the formula for calculating loss?
You calculate loss the same as you would do profit income minus expenses (outgoings) = profit/loss If the answer is negative then you are making a loss, if the answer is positive then you are making a profit.
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.
Which account you in 3 net loss?
The profit and loss account is the account that can be used to calculate the net loss.
Why you prepare profit and loss account?
as simple as that to know the net profit or loss from business in an accounting period. for more about financial accounting visit indianaccounting.blogspot.com
How do you calculate net profit margin if there is net loss?
The Gross Profit Margin = Gross Profit/Revenue*100 regardless of weather the Gross Profit is positive or negative (a loss). Therefor, it is acceptable to have a negative Gross Profit Margin.
How do you calculate accounts up to profit an d loss?
purchese amount 100
How do you calculate profit loss?
The basic equation goes: Gross Revenues - (Operational Costs + Cost of Goods Sold + Payroll + Depreciation/Amortization + Taxes) = Profit or (Loss)
What is the formula to calculate profit?
A simple profit formula reconciles revenue to losses and expenses. Profit equals the total revenue subtracted by losses and expenses.
Do provisions for loan loss go in the balance sheet or profit and loss?
Profit and Loss.
How to calculate Milk profit by simple java program?
Calculate the total cost of producing milk by multiplying number of litres with cost per litre.
How do I Find the incremental profit or loss?
The incremental profit or loss is the change in profit or loss over the designated time period. After calculating the profit or loss, for example on a monthly basis, the delta between that and the average monthly profit or loss from the prior year can be determined.
What are the limitations of profit and loss account?
"What are the limitations of profit and loss account?"
