What are the items in trading , profit and loss and balance sheet ?

Bcom 925 views 4 replies

I have to start learning profit and loss and balance sheet from next class on wards .

Can someone tell me what are all the items in trading , profit and loss and balance sheet are ?

Do we use the trial balance to prepare the trading , profit and loss and balance sheet ?

Replies (4)

Trading account should be stopped in accounts. Is your text book still trading accounting? It’s Indas now a days. Nothing big about trading account- all items which come before the operating profit EBIT are called as trading account. 

They include:

Sales and returns

Purchases and returns

Inventory opening and closing

Wages and all overheads

Depreciation and other expenses will come under pl

Thanks for the reply ...

 

So these are all the items in it ,

Trading account ,

Direct expenses

opening stock

closing stock

purchases

purchase returns

sales

sales returns

Profit and loss account ,

Indirect expenses

Indirect incomes

Balance sheet Account ,

Asset

liability

capital

 

:)

Yes! This is sophisticated enough 

OK ,

 

Thanks a lot for the replies

 

:)


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
01 June 2026
Audit, Taxation & Compliance Executive

R P S K & Associates

Nashik

CA Inter

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
Featured 28 May 2026
SEMI QUALIFIED/ CA DROPOUTS/ ARTICLES

T R SOOD & CO

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
26 May 2026
Senior Accountant cum purchase Manager

Vardhaman Group of India

Pimpri Chinchwad

CA Inter

View Details
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
24 May 2026
Accounts & Tax Executive

PARAS KHURANA AND CO

New Delhi

B.Com

View Details