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    pulickalbismil's Avatar
    pulickalbismil Posts: 2, Reputation: 1
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    #1

    Feb 17, 2009, 12:32 AM
    What is the relation between Resurves & Surplus and Profit & Loss account?
    What is the relation between Resurves & Surplus and Profit & Loss account?
    mazhar641's Avatar
    mazhar641 Posts: 2, Reputation: 1
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    #2

    Feb 17, 2009, 11:01 AM

    Profit & Loss account shows you the profit or loss for the fiscal year only, Where as Reserve shows the accumulated profit or loss for the previous periods. Pofit or has has to be transferred to Reserve for distribution. It would increase the reserve if there is a profit or decrease if there is a loss during the period.
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