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Quick question for an accountant!!

  • 10-04-2010 08:46PM
    #1
    addictedtoshoes
    Closed Accounts Posts: 129 ✭✭


    I am in the middle of doing a profit and loss sheet and underneath that I have cash flow, should my cash flow include any loans or overdrafts I have as a plus amount. It currently shows minuses for my loan repayments. I got a loan for about 5k in February so should this be a Plus as it increased my cashflow that month?? :confused:


Comments

  • #2
    KenHy
    Registered Users, Registered Users 2 Posts: 441 ✭✭KenHy


    yes.


  • #3
    henryd65
    Registered Users, Registered Users 2 Posts: 107 ✭✭henryd65


    The receipt of the loan would be shown as a plus in your cashflow.

    The repayment of the loan (principal and interest) will be shown as a minus in your cashflow. The interest portion only of the loan repayment will be shown in your profit and loss.


  • #4
    addictedtoshoes
    Closed Accounts Posts: 129 ✭✭addictedtoshoes


    Thanks guys, that's great!


  • #5
    MCannon
    Closed Accounts Posts: 19 ✭MCannon


    Any increase in a company's creditors must be shown and a loan is of course a creditor


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