Financial Statements & Accounting
4 terms
Profit and Loss Statement
Financial Statements & Accounting
₹ crore
A statement of revenue earned and costs incurred over a period, ending in the profit or loss for that period.
Net Profit = Revenue + Other Income - Operating Expenses - Depreciation - Interest - Tax
Profit Before Tax
Financial Statements & Accounting
₹ crore
Profit after all operating and financing costs but before income tax is deducted.
Profit Before Tax = Operating Profit + Other Income - Interest Expense - Exceptional Items
Property, Plant and Equipment
Financial Statements & Accounting
₹ crore
Tangible long-lived assets used in operations, such as land, buildings, machinery and vehicles, shown net of accumulated depreciation.
Net Block = Gross Block - Accumulated Depreciation
Provision
Financial Statements & Accounting
₹ crore
A liability of uncertain timing or amount that is recognised in the accounts because an outflow is probable and estimable.
Test: a present obligation exists, an outflow is probable, and a reliable estimate can be made; recognise the best estimate