Is it true that under the Indian GAAP income statment is called P & L Account and under the IFRS it is called P or L account?
If yes, why it is so?
Thanks,
Anil.
CA. Amit Daga
(Finance Controller CA. CS. CFA. CIFRS. M.COM. )
(9017 Points)
Replied 02 June 2009
Anil where u read all this can i know
CA Devanshi Gandhi (Ajani)
(FCA DISA Mcom CIFRS & LLB)
(9058 Points)
Replied 23 June 2009
under IFRS its called statement of comprehensive income
CA. Amit Daga
(Finance Controller CA. CS. CFA. CIFRS. M.COM. )
(9017 Points)
Replied 26 June 2009
She is correct.. but still there is difference for that try to read the standard
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