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Intro Ma Rs26
Intro Ma Rs26
Intro Ma Rs26
A.Y 2022-2023
Name of the Course: Management Accounting and Auditing - I
S.Y.B.COM
Semester - III
Submitted by:
Teacher in Charge:
Table of Contents
Plagiarism Report
Introduction
The phrase "profit and loss" (P&L) statement" refers to a financial statement that lists
the receipts, outlays, and costs for a given time frame, typically a quarter or fiscal year. These
documents reveal if a business can produce profit by raising sales, cutting expenses, or doing
both. P&L statements are frequently displayed using the cash or accrual method. P&L
statements are used by investors and corporate managers to assess a company's financial
condition.
Along with the balance sheet and the cash flow statement, the P&L statement is one
of the three financial statements that every publicly traded company releases on a quarterly
and annual basis. Given that it displays the amount of profit or loss a business made, it is
frequently the most well-known and frequent financial statement in a business plan.
Vertical Income statement is a detailed income statement which details the various
income sources according to their importance and shows a relative figure to a
comparative year/quarter/ time period taken into consideration. It further shows a column
indicating increase or decrease in current period with respect to the period taken into
consideration, also showing it on a percentage basis taking the period taken as
comparison as the denominator.