Abstract
The form and content of the profit and loss statement and related accounting concepts and conventions are described in this technical note. An actual profit and loss statement is used for illustrative purposes. The concepts covered include income realization and expense recognition. The note also describes the distinction between cash and accrual accounting.
Additional Information
| Product Type | Technical Note |
|---|---|
| Reference No. | F&A0131TEC |
| Title | The Profit and Loss Statement |
| Pages | 14 |
| Published on | Jan 1, 1970 |
| Authors | Seshan, Suresh A; |
| Area | Finance and Accounting (F&A) |
| Discipline | Accounting |
| Sector | Miscellaneous |
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