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The trading profit and loss account is also called what?

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Question added by Nickson Bedeware
Date Posted: 2016/03/13
Deleted user
by Deleted user

According to the IFRS, it is no longer tradin profit and loss, but

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME.

this is for situations were both the Profit or Loss and the Other Comprehensive accounts are presented together...

Estrella Agustina Costales
by Estrella Agustina Costales , Statistician I , National Statistics Office

It is also called the income statement account

Frank Mwansa
by Frank Mwansa , ACCOUNTING LECTURER , FREELANCER

it is also called the statement of comprehensive income ( income statement)

Mahmoud Hamid
by Mahmoud Hamid , Finance Manager , Experts

Profit & Loss account refer to Income Statement

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