grossprofit calculation
This query is : Resolved
16 January 2009
please say if i want to prepair a general balance sheet ,p&l ac in what ratio should the Grossprofit & net proft calculated
or formula because clients doesnot say their actual profit for incometax
or formula because clients doesnot say their actual profit for incometax
Pooja Chopda
(Expert)
16 January 2009
Survesh I don't think you should manipulate the financial statements as per clients requirement. Just follow the GAAPs & ASs & whatever laws are applicable to your client- income tax law, co law, etc.
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