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The Profit & Loss Account

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The objective of this simulation is to illustrate how the profit & loss account will change in response to changes in the internal and external environment of the firm. The profit & loss account acts as a central pillar in understanding the accounts of the firm. The simulation allows you to change a selection of inputs to identify the consequences on turnover, cost of sales, gross profit, net profit, profit on ordinary activities before taxation, retained profit and all the other sections that are included within the profit & loss account. Also included are background information and study questions.

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