why profit is a liability and loss is an asset?

5 Answers  

---

Your marketing company has been working on a consulting project for a client. Your team has worked on the project for two months, and it is now year-end. The project will be completed by February of the next year, and the client has not yet been billed. For the financial statement, how should project be classified?Should the costs associated with an uncompleted consulting project be classified as a work-in-process asset on the balance sheet or should the cost be expensed on the income statement as a part of the doing business?why?

2 Answers  

---

Calculation of Gross Profit Or Gross Loss give example?

2 Answers   EDS,

---

Entry of advance tax

7 Answers   AB Group,

---

Describe the P&L Account?

2 Answers  

---

3- Does petty cash book link to cash book, explain?

1 Answers  

---

How to Calculate Salary..? What is % will be taken for Basic Salary,DA,ALLowance,ESIC,PF,PT...Plse Clarify both side Employer & Employee..

4 Answers   Logistics,

---

book keeping is the art of recording------in the books of accounts

6 Answers   Finance, Wipro,

---

Give Journal Entry for "Interest Received from Bank" and give description with Accounting rules

27 Answers   ABC, GEE, Genpact,

---

How to void a payment

0 Answers   Accenture,

---

what differance Between Capital reserv and reserve capital?

4 Answers   Dharampal Satyapal Limited, Genpact,

---

what is the process of correcting the balance sheet of the company?if the balance of balance sheet are not equal.

1 Answers   HDFC,

---