Accounting clarity through the proposed two column profit and loss account : a comparative study of accountants and investors' perceptions

This paper titled ‘accounting clarity through the proposed two column profit and loss account; a comparative study of accountants and investors’ perceptions, investigates the Relevance, Understanding, Reliability, Importance and Clarity (RURIC) of the proposed Two Column Profit and Loss Account (TCPLA) among accountants and investors in Edo State of Nigeria. The survey questionnaire was employed as the study’s tool to elicit information from the selected respondents. The mean scores of both units of analysis were compared using stata 9 software and the hypotheses were tested using the t-test statistics. The results showed that, both investors and accountants perceived the TCPLA to be RURIC in absolute terms, but Investors’ perception is greater than those of the Accountants and showing higher support for TCPLA as an indication of improvement in the quality of accounting report with the characteristics of clarity or transparency. -- income statement ; accounting clarity ; qualitative characteristics of income statement ; two column profit and loss account ; transparency and accountability