IS Drawings no longer included in the income statement under expenses?
Ask the Tutor ACCA FA
Drawings
11y ago#1Drawings are not shown in the Statement of profit or loss (and have never ever been shown there).
Drawings reduce the amount owed to the owner, but they have no effect on how much profit the business made.
I do recommend that you watch the free lecture that covers Chapter 2 of the free Lecture Notes.
Sign into reply to this topic.