Is there any concept of drawing of good

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1359 Points Posted on 11 January 2022
is there any concept of drawing of goods in public company and private company
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On 11 January 2022 at 12:11 Report
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This discussion clarifies that the concept of 'drawings' as seen in partnerships does not directly apply to private or public limited companies. Goods withdrawn by directors for personal use should not be treated as drawings. Instead, these amounts should be adjusted against the director's remuneration.

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Chartered Accountant
5010 Points Posted on 11 January 2022

Please elaborate what do your mean by drawing here? Is it use of goods for personal use by directors? 

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On 11 January 2022 at 12:59
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1359 Points Posted on 11 January 2022
Yes goods withdrawn by directors for personal use
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On 11 January 2022 at 13:03
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Company Secretary
7085 Points Posted on 11 January 2022
There is no Concept of Drawings in Private and Public Ltd Cos..
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On 11 January 2022 at 22:17
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Chartered Accountant
5010 Points Posted on 12 January 2022

Yes there is n such drawings allowed to directors from the Company. Adjust the amounts taken by the directors from the company with their remuneration payment. 

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On 12 January 2022 at 14:22
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Profession
28267 Points Posted on 16 January 2022
Concept of drawings is only for partnership.
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On 16 January 2022 at 20:16
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CA
2141 Points Posted on 02 February 2022

There is no concept of drawings in Public or Private Companies.

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On 02 February 2022 at 19:51

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