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why at the top of P/L a/c we write for the year ending and at the
top of balance sheet we write as on or year ended.
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Answer / h.r. sreepada bhagi
P&L A/c covers all the transactions during an accounting
period or accounting year (Eg. 1st April to 31st march next
year), so the heading appears as P&L A/c for the period
ended (If it's not for a full year), month ended, year
ended, etc.
Whereas the Balance Sheet is prepared as on the last day of
the accounting period or year and it presents the position
of Assets, Liabilities & Networth (Financial Position)of the
business entity as on that date, so the heading appears as
Balance Sheet as on.........
| Is This Answer Correct ? | 34 Yes | 2 No |
Answer / anuj.genx
because P/L is prepared for full year and balance sheet is for particular date that is year ending date.
| Is This Answer Correct ? | 25 Yes | 3 No |
Answer / sumitra.raghavan
bcoz p/l takes into consideration effect of transaction thru
out the accountng period...where as b/s is indiactes position
as at particular date
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / farhath
p/l is prepared for recording all transactions hapnd during
the year thts y it is writen as year endig with particular
date...and balance sheet is prepared at the end of d year
were al p/l balnc is included with d conclusion of d presnt
condition of the company thts y it is written as end of the
year..
| Is This Answer Correct ? | 6 Yes | 4 No |
Answer / murali
P & L Prepared for the particular Year. In these Period all
transactions related to Revenue income & Revenue
expenditure recording in to P&L ( i.e. Short Trem)
but in balnce sheet it is cumulataively transfer to the
next year. so P&L show for the yra and b.sheet shows Year
ended.
| Is This Answer Correct ? | 3 Yes | 4 No |
Answer / suhrid de
P/L is the result of a period whereas B/Sheet is the ending
result of a particular accounting period.
| Is This Answer Correct ? | 2 Yes | 4 No |
Answer / venkat
p/l a/c is the a/c it showss the information about profit r
loss for the particular year r period so we r writing
heading like"p/l a/c for the year ending.... "
But balance sheet is the statement it shows not only fixed
period so we give heading like"balance sheet as on...."
venkat
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| Is This Answer Correct ? | 2 Yes | 4 No |
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