.

The profit and loss account shows the net profit (how is it defined?=the difference between gross profit /plus income from sources other than the sale of goods/ and various expenses)
Other income for example: the profits from selling an item of machinery
And therefore ,it can be regarded as other operating income but from these positive items we must deduct the following:
- Selling cost (pay of salesforce, marketing expenses, discounts allowed to customers, bad debts written off)
- Distribution costs
- Administrative expenses
- Interest paid
- Depreciation (refers to that year’s depreciation / the balance sheet records accumulated depreciation which is deducted from the fixed assets)

Krátká práce, která neobsahuje příliš textu. jedná se spíše o ukázku účetnictví v angličtině dopněné i o názorně tabulky.