how is the costing p&l and financial p&l are interrelated...........how the balance of costing p&l affects the balnce of financial P&L
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Costing Profit & loss shows the Profit after Recovering costs, While Financial Profit & loss shows Profit after incurring Costs. For Example I actually incurred Overheads Amount 50000, but By following some recovery rate, i recovered Rs.60 Per unit And producing 1000 units.. Thus I recovered 60000, ie Overrecovery... Thus My Financial P & L Will show overheads as 50000, whiule costing will show as 60000...
Thus both are interrelated in that way
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