Do we do adjustments given in the same way in income statement in the way we do in profit and loss a/c in the horizontal format?

Dear Student


Yes adjustments are done in the same way in Income statement as we do in Profit and Loss account, Only difference is in presentation part, i.e In income statement some items are shown in Notes and cumulative total is shown in income statement whereas in profit and loss account all items are shown in profit and loss account itelf.

Regards
 

  • 1
yes only the various items in profit and loss a/c is grouped together as employee benefit expenses which includes salary,compensation paid to employess and many other items
  • 1
What are you looking for?