In accounting, carrying forward the profit and loss for the current period is an important process, which reflects the company's operating results over a certain period. The profit and loss carry-forward for the period includes the recognition, measurement and recording of income, costs, expenses and other elements. This article will introduce the basic steps and examples of carrying forward accounting entries for the current period profit and loss.
First, the basic steps.
1.Recognize all revenues and costs: All revenues and costs must be recognized before the profit or loss for the period can be carried forward. This includes sales revenue, costs, expenses, taxes, and more. Ensure that all transactions are recorded in the accounts and that nothing is missing.
2.Calculate profit: After all revenues and costs are recognized, the company's profit for that period needs to be calculated. This can be derived by subtracting the total cost from the total revenue.
3.Carry forward revenue and costs: Carry forward revenue and costs to the profit and loss account for the period. Revenues are credited and costs are debited.
4.Preparation of accounting entries: Prepare corresponding accounting entries based on the income and costs carried forward. These entries include the recognition, measurement, and recording of revenues, costs, expenses, and taxes.
5.Review and approve: Finally, these accounting entries should be reviewed and approved to ensure accuracy and compliance.
2. Examples. 
Suppose a company achieves sales revenue of 1 million yuan in a certain period of time, with a total cost of 800,000 yuan, of which the direct cost is 700,000 yuan, the period expense is 100,000 yuan, and the tax is 50,000 yuan. The following is an example of an accounting entry that carries forward the profit or loss for the current period:
1.Recognition of sales revenue:
Borrow: Bank deposit of 1 million yuan.
Credit: main business income of 1 million yuan.
2.Confirm Costs:
Borrow: The cost of main business is 700,000 yuan.
Credit: 700,000 yuan of inventory goods.
3.Confirmation Period Fee:
Borrow: management fee of 100,000 yuan.
Credit: Bank deposit of 100,000 yuan.
4.Confirm the tax:
Borrow: tax and surcharge of $50,000.
Credit: 50,000 yuan in taxes and fees payable.
5.Carry-forward revenue and costs:
Borrow: main business income of 1 million yuan.
Credit: This year's profit is 1 million yuan.
6.Carry-forward costs and expenses:
Borrow: This year's profit is 850,000 yuan.
Credit: The cost of main business is 700,000 yuan.
Management fee of 100,000 yuan.
Tax and surcharge of $50,000.
7.Calculate profit: 1,000,000 yuan - 700,000 yuan - 100,000 yuan - 50,000 yuan = 150,000 yuan.
8.Preparation of income statement: Based on the above entries, the company's income statement can be prepared to reflect the profitability of the period.
Through the above steps and examples, you can clearly understand the process and preparation method of carrying forward the current profit and loss accounting entries. It should be noted that more complex business and accounting treatments may be involved in actual operations, and the specific situation needs to be adjusted and handled according to relevant regulations and the actual situation of the enterprise.
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