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P&l appropriation

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(Querist)
25 June 2014 I am not able to understand why do we prepare p&l app Ac? And what all Items do wew take in it? And is it prepared only for companies?
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SAJEEV

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SAJEEV (Expert)
25 June 2014 Go through this link

https://www.svtuition.org/2009/12/profit-and-loss-appropriation-account.html
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
26 June 2014 it also applies to partnership firms...it is prepared for transferring amounts from profit and loss a/c after payment of tax...it applies to such transfers which are not tax deductible expenses...such as partner's profit share...
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