The main differences between the balance sheet and profit and loss account in public and private accounting

Abstract

The target of the following study is to analyze the main differences of the accounts of result and balance that are generated after private accounting exists and accounting publishes. For it, there will take as a base the countable regulations that register in both plans of accounting, where there have been appreciated big differences proceeding from the composition of the clear patrimony, since the capital is located in a different way, also criteria oppositions are with regard to certain definitions both of assets and of debit. For his part, the account of losses and profit has a completely different order, bearing in mind that the main income of the private enterprises comes from the sale of goods or rendering of service, and those of the public entities come of, between others, the taxes and valuations that the taxpayers pay