pl suggest the solution for the following case
the company doesnot hv revenue
it has only operating expenses.
is it required to prepare profit & loss A/C or is it enough to prepare only statement of expenses and prepare bal sheet.
if it is required to prepare P&l A/C as per which standard is is required to be prepared.
It is necessaory to prepare P&L as a practice. AS does not say anything abt P&L but speak only of B Sheet.
yes, as per the reuirements of the companies act, it is necessary to prepare the Profit and loss account, even though the company may nto have any profit.... The operating expenses to be shown and the loss should be carried to Accumulated Losses
Bharat Shah & Associates
Mumbai
CA Inter
View Details
Prish Consultancy LLP
New Delhi
B.Com
View Details
K R Kiran Kumar & Associates
Bengaluru
CA Inter
View Details
Sanath Sheshagiri & Co.
Bengaluru
CA Inter
View Details
Rohit KC Jain & Co
New Delhi
CA Inter
View Details
CCI
Pro
CAclubindia
