Balance Sheet vs. Profit and Loss Statement: An Overview . ... In addition, the balance sheet must adhere to a standard format as described in an accounting framework, ...

A profit and loss account ... and also shows gross profit. Whichever format they choose to use, ... (ROCE) combines a company's P&L account with its balance sheet.

Click here to download the profit and loss PDF template for companies with under £90,000 turnover. Click here to download the profit and loss PDF template for companies with over £90,000 turnover. XLS ...

The income statement summarizes the total revenue, expenses and profit or loss incurred during the period covered. A balance sheet does not involve time periods similar to income statements.