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Ipcc contract account

IPCC 551 views 3 replies
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job seeker
1203 Points Posted on 10 August 2013
i have a question on contract accounting,if notional lose is incurred then how shall i treat?
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On 10 August 2013 at 16:38 Report
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CA-Final
1485 Points Posted on 10 August 2013

Transfer it to Statement of Profit and Loss Account. 

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On 10 August 2013 at 18:39
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job seeker
1203 Points Posted on 10 August 2013

please referred by an example..

 

3 Reply
On 10 August 2013 at 20:07
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Webmaster
27 Points Posted on 12 August 2013
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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On 12 August 2013 at 16:47


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