What are all the items come under P&L and Balance sheet?
- 14 Answers
- 52804 Views
- EF, TCS, Wipro, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / muhammad yousuf
The Balance Sheet tells you what a company owns, and how much money it owes to others. When examining a balance sheet, the three most important items are “Total Assets,” “Total Liabilities,” and “Shareholders’ Equity.” A quick summary:
Total Assets: This is the total value of everything a company owns, from factories and trucks, to inventory, right down to the pens and pencils in employees’ desks.
Total Liabilities: This is the total amount of money that the company owes to other people (or companies). Loans owed to the bank, bonds issued to investors, payments owed to suppliers, and taxes owed to the government are all liabilities that show up here.
Shareholders’ Equity: Take everything the company owns (Total Assets), subtract everything the company owes to others (Total Liabilities), and what’s left over is shareholders’ equity – the value of the owners’ stake in the company.
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / rishi chaudhary
All indirect expenses, loss and gains, incomes subtract from the gross profit, so gross profit also a part of P&L account.
In the balance sheet all tangible and intangible assets and liabilities comes.
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / md anas ahmed
P&L items are Indirect expense and Indirect incomes.
Balance Sheet items are Assets & Liabilities
Under the mercantile system, all the oustandings & accruals
shall be taken in the P & L a/c. and B/S.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / pooja gupta
balance sheet only includes items which are of personal and real nature.......
| Is This Answer Correct ? | 1 Yes | 0 No |
what is Debit note and Credit Note ?
expand -------SRD
define holding company,public company, if the compnay be a public company what will the criteria? asked on 30/7/09
how could we reconcile the cash book balance with pass book balance by pass book Dr. balance with pass book method?
EXPAND_______________TSI
What is Depreciation and how is it different from amortization
5 Answers IBM, Thomson Reuters,
Short Answer on ______________Import Trade
what is meaning bpo & kpo
please tell me that how much percentage of shares of a company must be purchased so in order to start the company??
How can Goods Received Note (GRN) be cancelled?
What is meant by debt fund.
5 Answers Franklin Templeton, Shiva Corporation,
While processimg for vendor outgoing payments in f-53 i am getting error massage i.e.exchange rate difference incomplete in vendor g/l account and allowing me to clear the payment,how can i rectify this one,plz guide me?
Audit 
