Diff btwn p/l account and p/l appropriation a/c
This query is : Resolved
08 December 2012
What is diff btwn p/l account and p/l appropriation a/c
09 December 2012
Profit and loss account is a charge against profit.
whereas profit and loss appropriation account is an appropriation of profit.
P&L App is prepared after the P&L acc has been prepared. Here, reserves , provisions etc are created out of the profit derived from the P&L account.
whereas profit and loss appropriation account is an appropriation of profit.
P&L App is prepared after the P&L acc has been prepared. Here, reserves , provisions etc are created out of the profit derived from the P&L account.
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