Balance in Profit and Loss a/c The Profit and Loss a/c is also a nominal account. It’s balance indicates either a profit (Net Profit) or a loss (Net Loss). It is closed at the end of the accounting period by transferring its balance to either the Capital a/c or the Profit and Loss Appropriation (or Retained Earnings.
Black Knight (BKI – Free Report) just came out with quarterly earnings of $0.46 per share, beating the Zacks Consensus Estimate of $0.44 per share.This compares to earnings of $0.35 per share a.
The Current Year Earnings would be displayed on the Balance Sheet and would be the Net Profit (or Net Loss value from which is shown on the Profit and Loss. In theory this should be the same. They wouldn’t be the same if running the Profit and Loss for the full financial year or running the Profit and Loss report as a Cash basis method.