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Published in:
1999 | OriginalPaper | Chapter
Profit and loss account
Authors : Ken Wild, Brian Creighton, Deloitte & Touche technical department
Published in: GAAP 2000
Publisher: Palgrave Macmillan UK
Included in: Professional Book Archive
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The Act provides that every profit and loss account shall give a true and fair view of the profit or loss for the financial year and shall comply with Sch 4 as to its form and content. [s226] The Act allows certain exemptions from its requirements for companies that qualify as small or medium-sized. These exemptions are dealt with in chapter 31.