Hello
Sorry... if someone already asked this.
But can I use abbreviations like
F.S, SFP, SPL
F.S - financial statement
SFP- statement Of financial position
SPL- Ststemeny of profit & loss
Ask the Tutor ACCA AAA
Abbreviation
PBT, UEL, NCI, Y/E
It really depends on the context! If you're having to prepare a press release, then it's no good expecting reporters / editors to have any idea what you're talking about
Safest is to write out the words in full "Consolidated Statement of Financial Position" and follow that with the abbreviation so you're left with "Consolidated Statement of Financial Position (CSoFP)"
From that point on, feel free to abbreviate whenever CSoFP is to be mentioned
OK?
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