Accounting Ideas

Having single line on P&L brought forward line on Balance sheet for more than 12 month period

Can we have a single line as Profit & Loss for the year on Balance Sheet when there is a period of more than 12 months in first year. Currently it is divided in 2 lines. Profit & Loss Brought Forward and Profit & Loss for the year. It will give proper result on Balance Sheet about Company

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  • Nov 28 2022
  • One For The Future
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