Reconciliation of cost and financial accounts
This query is : Resolved
Jay Badiani
(Querist)
08 November 2014
When we are given both Costing and Financial Book profits and they are need to be reconciled. Then fundamentally which profit should be the starting point of reconciliation ?
Amol S Joglekar
(Expert)
08 November 2014
Choice is with the reco preparer. (The interesting fact whichis observed is if a CA is doing reco, it goes from cost to finance AND if a CWA is doing reco, it goes from finance to cost.)
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