When company takes the bid is the foreman commission income?

Venkkatesh (Accountant) (124 Points)

04 September 2015  

Hi,

Recently when i go through the Accounts of a Chit Company i came to know that Foreman Commission is generating as Income but my doubt is that 

When Foreman take the Bid, is the Foreman Commission is Income to company? if yes why if no why. I thought that is neither an income nor an expense for the Company as Company itself taking the Bid. But when i asked a CA this quesiton he said it is an Income.

Regards,

Venkkatesh