Meaning of sale value/operating income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
21 February 2014
Please explain me meaning of
Annual Turnover shall be = Sale Value/Operating Income
Can i Consider the Interest Received on FD in Sale Value (Other Incomes)
And how to calculate please give me the formula for calculation
Annual Turnover shall be = Sale Value/Operating Income
Can i Consider the Interest Received on FD in Sale Value (Other Incomes)
And how to calculate please give me the formula for calculation
Vijay Kumar
(Expert)
22 February 2014
Dear Friend,
Interest on FD should be treated as an Other Income.
Any realisation with respect to Sales is always considered as Income from operation.
Making Fixed Deposit is not a regular activity (regular course of business) so, any interest received should be treated as Other Income and should be shown separately with different account head under Indirect Income group.
Regards,
Vijay
Interest on FD should be treated as an Other Income.
Any realisation with respect to Sales is always considered as Income from operation.
Making Fixed Deposit is not a regular activity (regular course of business) so, any interest received should be treated as Other Income and should be shown separately with different account head under Indirect Income group.
Regards,
Vijay
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