Statement of Profit and Loss 5


This chapter will help the readers to:

  • Understand the contents of statement of profit and loss in depth.
  • Appreciate the issues involved with accrual of expenses.
  • Prepare the statement of profit and loss as per the requirements of the Companies Act, 2013.
  • Differentiate various measures of profits—gross profit, operating profit, pre-tax profit and
  • net profit.
  • Calculate and interpret basic earnings and diluted earnings per share.
  • Appreciate the requirements of applicable accounting standards—Ind AS 12 (income taxes), Ind AS 19 (employees benefits), Ind AS 23 (borrowing costs), Ind AS 33 ...

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