3. CHAPTER 1 : STATEMENT OF P/L


Dear Boys,

Statement of Profit and Loss format is being shared.


  STATEMENT OF PROFIT & LOSS

Statement of profit and loss
I.Revenue from operations

II. Other income

III.Total Revenue (I+II)

IV.Less Expenses:

* Cost of materials consumed *Purchase of stock in trade
* Changes in inventories of finished goods, work in progress and stock in trade
* Employee benefit expenses
* Finance costs
* Depreciation and amortization expense
* Other expenses
Total expenses

V.Profit before tax (III-IV)

VI.Less Tax provision

VII.Profit after tax (V-VI)


Location: MDR3, Rajasthan 322243, India

Comments

  1. JayantMarch 24, 2020 at 7:59 AM

    Ma'am what does profit before tax mean and what can it's examples be ?

    ReplyDelete
    Replies
    1. Reeta SharmaMarch 24, 2020 at 9:40 AM

      When Revenues , incomes are matched with the expenses and losses, we get profit..this is the taxable Income for the firm...which is called profit before tax..tax will be calculated on this profit..hope I have answered your query.. Thanks

      Delete
  2. UnknownMarch 25, 2020 at 10:55 AM

    Good Morning Ma'am
    Samarth Singh

    ReplyDelete

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