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accounting vs profit and loss account

profit and loss account vs accounting

accounting and profit and loss account both are nouns.

Word NounAdjectiveVerbAdverb
accounting Yes No No No
profit and loss account Yes No No No
As nouns, profit and loss account is a hyponym of accounting; that is, profit and loss account is a word with a more specific, narrower meaning than accounting:
  • accounting: a statement of recent transactions and the resulting balance
  • profit and loss account: an account compiled at the end of an accounting period to show gross and net profit or loss
Other hyponyms of accounting include capital account, capital account, profit and loss, suspense account, expense account, travel and entertainment account.
accounting (noun) profit and loss account (noun)
the occupation of maintaining and auditing records and preparing financial reports for a business an account compiled at the end of an accounting period to show gross and net profit or loss
a system that provides quantitative information about finances
a convincing explanation that reveals basic causes
a statement of recent transactions and the resulting balance
a bookkeeper's chronological list of related debits and credits of a business; forms part of a ledger of accounts
Difference between accounting and profit and loss account

Words related to "accounting"

Words related to "profit and loss account"

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