Module 2 : Financial Statement
Lecture 2 : Financial Statement : Profit and Loss Account
 
Profit & Loss A/c (Simple Format)

Particulars

Amount

Sales

XX

Cost of Goods Sold

(XX)

Gross Profit

XX

Other Expenses

(XX)

Tax

(XX)

Net Profit

XX
 

Particulars  

Year Ended Year Ended
 

(format as per revised schedule VI )

31st Mar 2011 31st Mar 2010
I.

Revenue from Operations

-
-
II.

Other Incomes

-
-
III.

Total Revenue (I + II)

-
-
IV.

Expenses:

Cost of Materials Consumed

-
-

Purchases of Stock-in-Trade

-
-

Changes in Inventories of Finished Goods, Work-in-Progress and Stock-in-Trade

-
-

Employee Benefit Expenses

-
-

Finance Costs

-
-

Depreciation and Amortization Expense

-
-

Total Expenses

-
-
V.

Profit before Exceptional and Extraordinary Items and Tax (III − IV)

-
-
VI.

Exceptional Items

-
-
VII.

Profit before Extraordinary Items and Tax (V − VI)

-
-
VIII.

Extra Ordinary Items

-
-
IX.

Profit before Tax (VII − VIII)

-
-
X.

Tax Expense:

(1) Current tax

-
-

(2) Deferred Tax

-
-
XI.

Profit/ (Loss) for the period from Continuing

-
-

Operations (IX − X)

XII.

Profit/Loss from Discontinuing Operations

-
-
XIII.
Tax Expense of Discontinuing Operations
-
-
XIV.

Profit/(Loss) from Discontinuing Operations (after Tax)

-
-

(XII − XIII)

XV.

Profit/ (Loss) for the Period (XI + XIV)

-
-