Profit & Loss Statement

A Profit and Loss Statement (also called the Income Statement or Statement of Profit and Loss) presents a company's revenue, costs, and expenses over a financial period, showing whether the business made a profit or loss. It is essential for understanding business performance, tax compliance, and investor reporting. Our chartered accountants prepare P&L statements in compliance with the Companies Act, 2013 (Schedule III format for companies) and applicable accounting standards. We ensure all revenue and expenses are correctly recognized, classified, and presented with appropriate disclosures. The service covers revenue recognition, cost categorization, exceptional items, prior period adjustments, and earnings per share computation where applicable. We provide comparative figures from the previous year for trend analysis.