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This is a 2-3 page pdf. Students please go carefully through these. It will help you to understand depreciation
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Format of Income Statement as per Schedule-III, Part-II of Indian CompaniesAct, 2013
Income Statement /Statement of Profit & Loss for the year ended 31/3/…….. or 31/12/……..
Particulars Note no. Amount Rs
Revenue from operation
Other Income
1.Total Revenue
Expenses:
-Cost of material consumed
-Purchase of stock in trade
-Changes in inventory in work in progress, Finished goods and
stock in trade
-Finance cost
-Employee benefit expense
-Depreciation and Amortization
-Other expense
2.Total expense
3.Profit Before Tax (1-2)
4.Less: Tax @ …% on PBT
5.Profit After Tax (3-4)
Understanding of income statement
Item of Income:
1.Revenue from operation- Net Sales value of goods and services.
2.Other incomes- All indirect incomes are merged together here.
Item of expense (Please see to the explanation given below)
1.Cost of material consumed
2.Puchase of stock in trade
3.Changes in inventory of stock of work in progress,finished goods and
stock in trade
Types of Business man (stock/ inventory)
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