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Profit or loss shown in balance sheet according to Scheduled III

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Daya (Querist)
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13 October 2023 how to present Loss or profit in Balance sheet
Loss treatment
Profit Treatment

Aashok Kumar Sharma online

Aashok Kumar Sharma online

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15 January 2024 (iii) Debit balance of statement of profit and loss shall be shown as a negative figure under the head ―Surplus‖. Similarly, the balance of ―Reserves and Surplus‖, after adjusting negative balance of surplus, if any, shall be shown under the head ―Reserves and Surplus‖ even if the resulting figure is in the negative.

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