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 notifications@github.com wrote:

Why do you want to do that ?

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[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