A proposal for modification of the natural classification format of the profit and loss account
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The profit and loss account, besides the balance sheet, is one of the basic financial statements. Revenues from sales and similar items as well as changes in stocks of goods and work-in-progress in the natural classification variant of the profit and loss account are rather ambiguous items, thus causing considerable difficulty in proper understanding of the financial results. The authors propose a modification of this financial statement, which would eliminate such problems.
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