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Disallowance

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(Querist)
22 June 2016 Hi All,
My query is, company has prepared Financial statement & having loss in that financial year & after certain disallowances it is moved to profit.
whether in the company's P&L A/c, that disallowed expenses be shown or not? if yes(shown) then company is in loss today, so EPS will be negative.
these expense are disallowed only for income tax purpose, hence the picture will depict as it is before disallownce. please correct me if i am wrong.
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Ashwani Narnoli

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Ashwani Narnoli (Expert)
23 June 2016 Disallowance is only for Income tax purpose, it should not be shown in Financial Statements.
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firoz ali

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firoz ali (Querist)
24 June 2016 Hi Ashwami,
thanks for sharing your views, that means allowed & disallowed both expenses will be shown in P&L A/c.
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