In foriegn branch accounting we prepare trading and P&L account with invoice price and make entry for unloading in H.O's p&l on the other side we prepare inland profit and loss account directly at cost price. Is this requirment of law or because most of foriegn branches are independent thats why ?
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One of the reasons is that these are independent; other reasons include transfer pricing provisions under income tax law.
Thanks sir for solving query
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