What information is required to be disclosed about P & L A/c?

Minimum Information on the face of Statement of Profit and Loss
  • On the face of statement of profit and loss, 'revenue from operations' and 'other income' are to be presented; besides, 'expenses' are to be presented as under :
    • Cost of materials consumed
    • Purchases of stock-in-trade
    • Changes in inventories of finished goods, work-in-progress and stock-in-trade
    • Employee benefits expenses
    • Finance costs
    • Depreciation and amortisation expenses
    • Other expenses
    • Total expenses
  • Separate line items on the face of statement of profit and loss are required to present :
    • Profit before exceptional and extraordinary items and tax
    • Exceptional items
    • Profit before extraordinary items and tax
    • Extraordinary items
    • Profit before tax
    • Tax expense :
      • Current tax
      • Deferred tax
  • If there is a discontinuing operation, further separate line items are required to be presented on the face of the Statement as follows :
    • Profit/(loss) for the period from continuing operations
    • Profit/(loss) from discontinuing operations
    • Tax expense of discounting operations
    • Profit/(loss) from discontinuing operations (after tax)
  • Finally the profit (loss) for the period and basic as well as diluted EPS have to be shown on the face of the statement of profit and loss.

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