The Profit and Loss Statement for Y4 is presented below in vertical format as is usually prepared and presented by firms. It is also presented this way in the Accounting System > Group 10 > Income Statements. A horizontal model can also be used where required by external users of the firm’s financial reports.
Subscribe today and learn the fundamentals
It seems you don't have access to the exclusive content of The Course.
In order to gain access to the content of The Course you will have to register with EntreprenAble. Membership with EntreprenAble will also give you access to our interactive Business Game and Accounting Simulations.
Subscribe today and get:
- Unlimited website access to The Course
- Optimized view for Desktop, Tablet and Mobile devices
- Free 7-day, no obligation trial - normally £15
Test-drive the system for free