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Financial Statements of a Company 1.7
Format of Statement of Profit & Loss
Format of the Statement of Profit & Loss is prescribed in Part II of Schedule III of the
Companies Act, 2013, as follows:

STATEMENT OF PROFIT & LOSS
for the year ended ...
Particulars Note Figures Figures
No. for the Current for the Previous
Reporting Period Reporting Period
I. Revenue from Operations ... ...
II. Other Income ... ...
III. Total Revenue (I + II) ... ...
IV. Expenses
Cost of Materials Consumed ... ...
Purchases of Stock-in-Trade ... ...
Changes in Inventories of Finished Goods,
Work-in-Progress and Stock-in-Trade ... ...
Employees Benefit Expenses ... ...
Finance Costs ... ...
Depreciation and Amortisation Expenses ... ...
Other Expenses ... ...
Total Expenses ... ...
V. Profit before Tax (III – IV) ... ...
VI. Less: Tax ... ...
VII. Profit or Loss for the Period (V – VI) ... ...

The column for Note No. is prescribed for the purpose of cross reference to the Note No. in the
Notes to Accounts where detail of the line item is given.

IMPORTANT NOTE
CBSE has prescribed that Exceptional Items, Extraordinary Items and Discontinued
Operations are excluded. Therefore, these items have not been shown in the format.

Definition of Authorised Capital [Section 2(8) of the Companies Act, 2013] “Authorised
Capital” or “Nominal Capital” means such capital as is authorised by the memorandum
of a company to be the maximum amount of share capital of the company.
Definition of Issued Capital [Section 2(50) of the Companies Act, 2013] “Issued
Capital” means such capital as the company issues from time to time for subscription.
Definition of Subscribed Capital [Section 2(86) of the Companies Act, 2013]
“Subscribed Capital” means such part of the capital which is for the time being
subscribed by the members of a company.
Definition of Called-up Capital [Section 2(15) of the Companies Act, 2013] “Called-up
Capital” means such part of the capital, which has been called for payment.
Definition of Paid-up Share Capital or Share Capital Paid-up [Section 2(64) of the Companies
Act, 2013] “Paid-up Share Capital” or “Share Capital Paid-up” means such aggregate of
money credited as paid-up as is equivalent to the amount received as paid-up in respect
of shares issued and also includes any amount credited as paid-up in respect of shares of
a company, but does not include any other amount received in respect of such shares,
by whatever name called.