The subsequent profit and loss statement format provides an outline with the most common Profits Assertion. It really is unachievable to offer an entire list of illustrations that address each variation in just about every predicament considering the fact that you can find 1000’s of these types of Earnings and Decline Statements formats based on geography, accounting guidelines, and many others.
The income statement and P&L Account are used interchangeably. It really is also known as the statement of operations, earnings assertion, assertion of financial results or money, or expense statement.
Examples of Profit And Loss Account Format :
