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Ipcc contract account
i have a question on contract accounting,if notional lose is incurred then how shall i treat?
Replies (3)
Transfer it to Statement of Profit and Loss Account.
please referred by an example..
As said by Rohit,
The total amount of Notional loss has to be transferred to Profit and loss A/C.
with regards,
Bharath M
factshunt.com
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