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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Drawings
IS Drawings no longer included in the income statement under expenses?
Drawings 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.
