How to Read A Profit and Loss Statement
- New Delhi TMH 2014
- 108
Similar to the earlier edition, various intriguing portions have been dealt with through amusing conversations infused with witty answers relating to P&L Statement. Additionally, the new edition elaborates on certain other equally important sections of the P&L Statement that were not addressed in such detail earlier.
Introduction
1. The Income Statement—An Introduction
What is a Profit and Loss Statement? Importance of Income Statement 2. Accounting Principles
Accounting Period Realization Principle Accrual Principle Matching Principle Assets that Become Expenses 3. Measurement of Income
Revenue Expenses Classification Different Accounting Period Items 4. Preparation of Income Statement
Account Various Types of Profit Form and Contents of Profit and Loss Account · Non-Operating Income/Other Income