Profit and Loss Statement for Financial Accounting

[kjcpa]

1. Gross receipts or sales (Direct Incomes)

2. Less: Cost of Goods Sold *Cost of Goods Sold = Beginning Inventory + Purchases - Ending Inventory *Beginning Inventory (Dr.) *Purchases (Dr.) *Ending Inventory (Cr.)

3. Gross Profit *Gross Profit = Gross Receipts or Sales - Cost of Goods Sold

4. Total Operating Expenses (Direct Expenses)

5. Operating Income *Operating Incomes = Gross Profit - Total Operating Expenses

6. Non-Operating or Other (Indirect Incomes/Expenses) *Non-Operating Incomes - Non-Operating Expenses

7)Net-Income *Net-Income = Operating Income - Non-Operating

[kjcpa]

InitialData.Mysql.sql may be modified to have 7 types of accounts:

1 for Assets 2 for Liabilities 3 for Owners' Equity 4 for Operating Incomes (or Direct Incomes) 5 for Cost of Goods Sold 6 for Operating Expenses (or Direct Expenses) 7 for Non-Operating (Indirect Incomes and Indirect Expenses)

[kjcpa]

Then modify the ReportsControler.php, balancesheet.ctp, and profitloss.ctp

[prashants]

Why do you want to do that ?

[kjcpa]

I will do it next weekend to make a standard profit and loss statement.

Sent from my iPhone

On Sep 13, 2016, at 12:12 AM, Prashant Shah [email protected] wrote:

Why do you want to do that ?

— You are receiving this because you authored the thread. Reply to this email directly, view it on GitHub, or mute the thread.

[kjcpa]

A standard statement may be used for lenders, investors, government agencies, etc.

[kjcpa]

Any format may be OK for managerial accounting or cost accounting if it is for management use.

[kjcpa]

My Balance Sheet and Profit and Loss

http://jeong.us/webzash

user: demo password: demo