Interested to Buy Any Domain ? << Click Here >> for more details...
Can we finalize Balance Sheet Without prepare Profit & Loss
Account.
- 15 Answers
- 20415 Views
- I also Faced
- E-Mail Answers
Answer Posted / sajid
P&L account shows the real financial result of an
organisation. One of the components in the BS is to
disclose the profit or loss. This is shown either under the
Reserves and Surplus heading(incase of a profit) or the
Miscellaneous expenditure heading(incase of loss). There is
no way, one can prepare a tallied BS without considering
the P&L results.
Further,from a loical stand point, we must realise that the
impact of P/L should either be on cash,bank or the debtors
or creditors. There has to be an impact. One side of which
is effected in the balance sheet. What about the other.
However, if somebody argues that an IE account or a Rcts&
Pmts account does make up for the P&L; I would not say that
is wrong. That certainly is in the same nature of P&L.
My conclusion is that, we need to have P&L account or its
like (IE account, RP account) to be necessarily prepared to
show a complete financial picture of the organisation.
| Is This Answer Correct ? | 5 Yes | 0 No |
Post New Answer View All Answers
Treatment of Government grant and its utilization in P
when will be appsc exams will held pls give me the dates
Income Tax Department sends cheque for INR 2 Crore as Refund after completion of Assessment for A.Y.2011 - 2012 to a Company. As per IT Return filed for this year I.T. due to Government was INR 60 Lac but was assessed at INR 70 Lac. TDS due to Company was INR 3 Crore which was admitted as INR 2.7 Crore by Government. Government also adjusts Tax dues for A.Y. 2009 - 2010 of INR 40 Lac which was disputed earlier by the Company and Appeal was lying with the CIT. Government pays Interest to the Company amounting to INR 40 Lac. Provision for Income Tax made by the Company in its accounts for F.Y. 2010 - 2011 (A.Y. 2011 - 2012) was INR 50 Lac. What would be the Journal Entry at the time of receipt of Refund of INR 2 Crore from the Government in A.Y. 2014 - 2015 in the books of the Company?
I am Simrat Kaur. I am persuing graduation from P.U. I have an experience of 14 months as a CSA. But i hav an experience letter of 6 months.But I can show my joinin letter of the other job. I hav knowledge of basics of computer & internet. Actually, m findin job in chandigarh. I am findin the right opportunity. so, Can u plz help me in findin the right job?? Can u plz tel me abt where interviews r goin on?
why your choseing bank of america
Information regarding shop & establishment registration of propiertor ship & require document for this
Can anybody tell when sbh dispatches appointment letters for Clerical for people completed medical and scrutiny of documents on 15/08/09?
STATE THE DIFFERENCE BETWEEN BANKING FIS AND NON BANKING FIS
Does any one attented HSBC audit compliance test? Please let me know asap. suraj
Occasionally it is said that issuing convertible bonds is better than issuing stock when the firms shares are undervalued. Suppose that the financial manager of Decent Furniture Company does in fact have inside information indicating that the decent stock price is too low. Decent furniture earnings will in fact be higher than investor’s expectations. Suppose further that the inside information cannot be released without giving away a valuable competitive secret. Clearly, selling shares at the present low price would harm Decent’s existing shareholders. Will they also lose if convertible bonds are issued? If they do lose in this case, is the loss more or less than it would be if common stock is issued? Now suppose that investors forecast earnings accurately, but still under value the stock because they overestimate Decent’s actual business risk. Does this change your answer to the questions posed in the preceding paragraph? Explain.
How often is the stock market ticker updated? 15sec? 30sec?
How to analyse the day to day sensex Points or Forex Values?
1) What is the steps of delisting the listed company 2) How to spliting the listed company shares 3) Which way the company should function when it has paidup capital is equal or more than 5,00,00,000/- (I mean which way the company should do it work in the company Act 1956. Is the company have to appoint a CS and and managing director of a any other things which is compulsory for these kind of company which paid up capital is 5,00,000/-
STATE & EXPLAIN THE IMPACT OF GLOBAL FINANCIAL CRIS ON CEMENT SECTOR IN INDIA:
In the case of Internal Reconstruction of company Accrued Int. On debenture / Outstanding int. On debenture transfer or not in capital reduction a/c . Explain
