Accounting Abbreviations. what do these stand for?

Question

1. a/c 2. (P/L item) 3. (B/S item)
Thanks T

Answer 1

1. a/c is a short form for account, as in stationery a/c, depreciation a/c, etc. A related short form is a/cg - accounting.

2. P/L item means any item in the Profit and Loss statement, aka Income statement. It can refer to either a revenue or an expense item. I think it's more commonly called the Income Statement in the US.

3. B/S item means any item in the Balance Sheet, it can be an asset item, or a liability item or a shareholder's equity item. There is talk of changing the term "Balance Sheet" to "Statement of Financial Position" so look out for it in your lectures.

Answer 2

1 a/c probably refers to account
2. P/L item refers to Profit or Loss statement (often called an Income Statement) indicating that the item is an expense or revenue item
3. B/S item refers to the Balance Sheet, indicating the item is an asset or liability.

Answer 3

I'll Try to help!

a/c - Account

P/L - Profit and Loss Statement Item (Revenue of expense)

B/S - Balance Sheet Item (Asset, Liability, Equity)

Answer 4

a/c = account

P/L item = Profit & Loss item (how much the company made)

B/S item = Balance Sheet item (what the company owns)

Answer 5

1. = Account
2. = Profit and Loss
3. = Balance sheet

Answer 6

the second part is financial forgery i believe that she been arrested for possession of financial forgery tools i also believe that the estb is establishing that would be my guess but i would ask a lawyer in your area