What is Profit and Loss Account? How to make Profit and Loss Account?
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UY MY ACCOUNTING VIDEO LECTURES
(1) Accounting Equation & Accounting Rules of Debit & Credit
(2) Journal, Ledger and Trial Balance
(3) Errors & Rectification of Errors
(4) Bills of Exchange
(5) Bank Reconciliation Statement
(6) Depreciation Accounting
(7) Financial Statements of Sole Proprietor (Final Accounts-WITHOUT ADJUSTMENTS)
(8) Financial Statements of Sole Proprietor (Final Accounts-WITH ADJUSTMENTS)
This video explains the profit and Loss account, its meaning, features and Objectives of making Profit and Loss account. This video also covers the items to be shown on the debit or credit side of profit and loss account. At the end of the video the balancing of profit and loss account will be taught.