Yes, that's correct. The Income and Expenditure Account is different from the Profit and Loss Account.

The Income and Expenditure Account is a financial statement that shows the inflow and outflow of money in a non-profit organization over a specific period. It records the income received and expenses incurred by the organization in order to deliver its objectives.

On the other hand, the Profit and Loss Account (also known as the Statement of Income and Expense) is a financial statement that summarizes the revenues, costs, and expenses incurred by a business during a specific period, usually a fiscal quarter or year. The aim of the Profit and Loss Account is to determine the profit or loss of the business for the period under consideration.

Both statements provide valuable insights into the financial performance of an organization, but they serve different purposes and are prepared for different types of entities.