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Profit and Loss Account in Statement Form/Income Statement: Trading and profit and loss account/income statement may be prepared either in account form (T form) or in report form (statement form).…
Difference Between Trading Account and Profit and Loss Account: Learning Objectives: What is the difference between account and profit and loss account? The main difference between trading account and profit…
Depreciation Fund Method or Sinking Fund Method of Depreciation: Learning Objectives: What is depreciation fund method or sinking fund method of depreciation? What are its advantages and disadvantages? Definition and…
Final Accounts: Learning Objectives: What is trading and profit and loss account? What is the the difference between trial balance and balance sheet? Prepare trading and profit and loss account…
Definition and Explanation of Accounting: Learning Objectives: Define and explain accounting. What are the main functions of accounting? Accounting is defined as "the art of recording, classifying and summarizing in…
Rubab Ali 
Abida Rehman 
Sana Ahmed