Profit and loss account definition
Profit and loss account means a financial statement showing the net profit or loss of the employment for the period in question; and
Profit and loss account or "profit and loss" means that account carried on the books of the bank into which all earnings accounts and recoveries are closed, thus exhibiting "gross earnings", and against which all loss and other disbursement items are charged, revealing "net earnings", which are then properly closed to "undivided profits accounts" or "undivided profits", out of which dividends are paid and reserves set aside.
Profit and loss account or "profit and loss" means that account carried on the books
Examples of Profit and loss account in a sentence
Banking book Trading book Impact of 5% change in equity prices on - Profit and loss account - 169,138 - 191,903 - Other comprehensive income 749,444 - 671,010 - Yield / Interest Rate Risk arises when there is a mismatch between positions, which are subject to interest rate adjustment within a specific period.
In case of there being a deficit, the same shall be adjusted by the Transferee Company to its General Reserves and the balance if any, shall be adjusted against the Profit and loss account.
The Balance sheet AND Profit and loss account must be in the name of the company.
More Definitions of Profit and loss account
Profit and loss account in relation to a CFC means the profit and loss account, income statement or equivalent as prepared in accordance with international accounting standards or in accordance with generally accepted accounting practice, but where:
Profit and loss account means a financial statement that summarizes the financial transactions for a business over a period in time. It shows revenue, expenditure and the profit and/or loss resulting from operations for a given ‘financial year’.
Profit and loss account means the profit and loss account comprised in the Notional Accounts; "Quarter Date" means each 14 January, 14 April, 14 July and 14 October falling after the Commencement Date; "Relevant Risk Asset Weighting" means the Bank Risk Asset Weighting or, as the case may be, the Strip Risk Asset Weighting (as appropriate); "Relevant Return Rate" means the Bank Risk Return Rate or, as the case may be, the Strip Risk Return Rate (as appropriate);
Profit and loss account means, at any time, the latest published audited consolidated profit and loss account of the Group.
Profit and loss account or "profit and loss" means that account carried on the books of the bank into which all earnings accounts and recoveries are closed, thus exhibiting "gross earnings", and against which all loss and other
Profit and loss account shall have the meaning assigned to it in the agreement of limited partnership, limited liability company agreement or similar governing agreement, as applicable, for each Fund.
Profit and loss account means the Profit and Loss Account to be prepared, and as finalised, in accordance with schedule 9;