WOuld you expect to see stock entries in a P& L account?

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
ANyone can help with my query?

Regards

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  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:WOuld you expect to see stock entries in a P& L account?

    hi

    the stock figure goes into the balance sheet not the p & l
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:WOuld you expect to see stock entries in a P& L account?

    Hi,

    Stock only appears in the P&L account as Opening and Closing Stocks, when working out Cost of Sales.

    Stock itself is an asset which appears in the Balance Sheet and comes under Current Assets.

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