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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 June 2010 CARO - While determining cash losses incurred during the year whether the provisions made towards the followings should be adjusted to the profit and loss a/c
- Leave encashment
- gratuity
- bonus
- income tax etc.

PLEASE ADVICE...

Aditya Maheshwari

Aditya Maheshwari (Expert)
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12 June 2010 In order to determine the figure of cash loss for the financial year, the figure of profit/loss shown by the profit and loss account is adjusted for the effects of transactions of a non-cash nature such as depreciation, amortisation, deferred tax expenses, etc.

So it is to be adjusted for provision for leave encashment & gratuity if the same are a non funded one.

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