Statement of Profit and Loss |Schedule 3 |Companies Act 2013 |Company Accounts |Letstute Accountancy

Format of Profit and Loss Statement as per Part II, Schedule III of the Companies Act 2013.
Balance Sheet format for Companies - https://youtube.com/shorts/rat2_9Mrr4I?feature=share
Cash Flow Statement - https://youtube.com/shorts/Tmd_4_9vwVk?feature=share
Watch this video to know how the statement of Profit & Loss is prepared under Company Accounts. We have also given the trick to remember the format of the Profit & Loss Account of Companies. This is one of the parts of Financial Statements in addition to the Balance Sheet, Cash Flow Statement, and Notes to Accounts.
P&L A/c for companies is prepared in vertical format and has four columns namely particulars, note, number, current year amount and previous year amount.
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