Profit & Loss Account
This query is : Resolved
Guest
Guest
(Querist)
30 September 2017
A Profit and Loss account (P&L A/C) shows either profits earned by the entity or losses that occurred. Then Why it is named as "P&L AC" instead of "P or L AC"?
30 September 2017
it is now regarded as Statement of profit
30 September 2017
Under Schedule III co act 2013 its Statement of Profit and Loss (SPL).
Both Profit/Loss of business transferred to this account.
Both Profit/Loss of business transferred to this account.
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