P&l account in revised schedule vi
This query is : Resolved
31 May 2012
Hi....
Can any one help out me about what are the exceptional & Extraordinary items while preparing Profit & Loss Account in Revised Schedule VI.
Thanks in Advance
Can any one help out me about what are the exceptional & Extraordinary items while preparing Profit & Loss Account in Revised Schedule VI.
Thanks in Advance
Amol S Joglekar
(Expert)
31 May 2012
As the words indicate... Extra ordinary has the element of "ORDINARY' ness. IT can be extar to the ordinary. Whereas exceptional are those which occur EXCEPTIONALLY. Anything which is extra with reference to the ordinary course of business shall be classified under this. And the items which are exceptional to the ordinary course of business shall be classified under this.
01 June 2012
Amol Sir.,Thank you for your Answer. I did not get clear idea from your answer. Can you explain it with an example..
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