Trading and Profit and Loss Account format and Balance Sheet


Trading and Profit and Loss Account format and Balance Sheet


If you continue browsing the site, you agree to the use of cookies on this website. See our User Agreement and Privacy Policy.Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. See our Privacy Policy and User Agreement for details. Trading account is prepared to ascertain the gross profit or gross loss made by the company during the accounting period. Profit and loss account is prepared to ascertain the net profit or net loss made by the company during the accounting period.

Profit and loss account is also called as income statement. Format Of Trading And Profit And Loss Account:-Trading and profit and anv account are generally prepared together and not separately. There are Profif formats by which trading and profit and loss account ca05 Nov 2002 An important feature of the syllabus for Paper B1, Maintaining Financial Records and Accounts is that candidates are required to develop an awareness of the need to present Balancce in a format which reflects the needs o f particular types of organisations.

The final accounts of sole traders co mprise of a Trading and Profit and Loss Account and Balance Sheet. Cand idates will be familiar with the Accoint format of these accou nts as shown in Figure 1.




Profit format and Account and and Sheet Loss Balance Trading

Profit format and Account and and Sheet Loss Balance Trading

Profit format and Account and and Sheet Loss Balance Trading