What is the difference between a cash flow statement and an
accural profit & loss account ? And why do simple
organisations do not feel the need for a profit and loss
type of statement ?
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Answer / Pooja Bangari
A Cash Flow Statement shows the inflow and outflow of cash within an organization over a specific period. It includes operating, investing, and financing activities. An Accrual Profit & Loss Account (P&L) represents the revenues earned and expenses incurred during a particular accounting period, regardless of when cash is received or paid. Simplified organizations may not require a P&L statement if they have minimal transactions and can manage their finances effectively using a Cash Flow Statement.
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