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Accounting & Budgeting


Accounting & Budgeting The course comes with easy to understand e-learning study materials. Profit And Loss Accounts One of the most significant financial statements for a company is the profit and loss Account, which explains the profit or loss of a company over a specific period of time, such as three months or a year, etc. This unit provides a complete guide for an understanding of the meanings and requirements of a profit and loss Account; it also describes the method of preparing the profit and loss statement. The aim of this unit is to examine the relation between statement of profit or loss and statement of financial position (SOFP), measurement of income, and the preparation of profit or loss Account.

SKU: 231198 Category:


Accounting and finance_Accounting


Accounting & Budgeting

Profit And Loss Accounts


After the completing this course learners will be able to:

  • Understand what a profit and loss statement is
  • Explain how to prepare a profit and loss statement in Accounting

Accounting Program Content


Introduction to Profit and Loss Account


  • Meaning of the Statement of Profit or Loss
  • Why is there a Statement of Profit or Loss?
  • Measurement of Income
  • Relation between Statement of Profit or Loss and Statement of Financial Position (SOFP)
  • Preparation of Profit or Loss Account