Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
Trending News
What is best way to remeber account of trading profit and loss account , balance sheet and trival balance way?
What is best way to remeber account of trading profit and loss account , balance sheet and trival balance method?
Please help urgent. anybody can help me.
2 Answers
- SandyLv 71 decade agoFavorite Answer
You must understand the double entry system 1st, and then get hold of a book which has plenty of exercises and do all of them. Practice, practice and more practice is the only way to get accounts at your finger tips.
- 5 years ago
The balance sheet shows balances, usually at year end, including receivables, assets etc. A P&L account shows profits / losses, turnover made during that year. The difference between the above 2 is that the former shows balances at one point in time, while the latter shows transactions over a 12 month period. A trading statement is a forecast of future earnings
