Trading v/s PL
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 September 2010
Hi,
Whathar Otward Transportation Expanses, in case of trading firm, is Item of Trading Account Or Profit and Loss Acxcount ?
Answer with REFERENCE to RELEVENT Accounting Standered.
Thanks
Whathar Otward Transportation Expanses, in case of trading firm, is Item of Trading Account Or Profit and Loss Acxcount ?
Answer with REFERENCE to RELEVENT Accounting Standered.
Thanks
CMA Ramesh Krishnan
(Expert)
19 September 2010
Purchase of goods need to be booked up to the material reach the destination, which is purchser place, other than no other expenses formaing part of Purchase of goods, this is pure trading related expenses,
Transportion of selling goods is on selling & distribution cost which is indirect cost, so it is a p&l item
Transportion of selling goods is on selling & distribution cost which is indirect cost, so it is a p&l item
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