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Loss of profit (slogan) IPCC/PCC

Poonam Arun Sharma (student) (103 Points)

14 October 2011  

Gandhi Is A Solid Leader And Charming Andaaz

1) G:     Gross Profit-   Net Profit + Insured Standard Charges  * 100

                                               Sales

2) I:       Indemnity Period Turnover : (turnover of dislocation period)

3) A:     Adjusted Standard Turnover - Standard Turnover +/- Trend (if any)

4) S:     Short Sales - Step 3 - Step 2

5) L:     Loss of Profit - Step 4 * Step 1

6) A:    Additional Expenses - wn 1

7) C:    Claim Statement - Loss of Profit                       *****

                                       +Additional Expenses            *****

                                       -Savings                               (*****)

                                        Total Loss                             ******   

             

8) A: Average Clause- Policy Amt                                * Total Loss

                                G.P on Adjusted Annual

                                     Turnover (Wn 2)





WN:1 Calculation of the additional Expenses

Least of the following:

a) Actual Additional Expenses :                                                                               ******

b) G.P on Additional Sales:                                                                                      ******

c) G.P on Adjusted Annual Turnover (wn 2)         *   actual additional expenses      *******

    G.P as above + uninsured charges





WN: 2 Calculation of G.P on Adjusted Annual Turnover:

G.P (Annual T/O  +/_ Trend if any)






 8 Replies

Rahul (Chartered Accountnat CS)   (1580 Points)
Replied 14 October 2011

Thanks poonam ... are you having more of such kind for IPCC

1 Like

krina (student) (1258 Points)
Replied 14 October 2011

Originally posted by : Rahul

Thanks poonam ... are you having more of such kind for IPCC

Kashish Grover ( CA-FINAL, CS-FINAL) (1671 Points)
Replied 14 October 2011

Ohh gr8.... i always used to have problem in remembering these steps... where have u been 1 year back .... :P

Pulkesh Mehta (Chartered Accountant) (243 Points)
Replied 14 October 2011

Great One

Jigna (Student - IPCC) (83 Points)
Replied 14 October 2011

If u have any other slogans for grup ii please forward us, it will your gr8t help!!

regards

Jigna

suman kc (student) (51 Points)
Replied 25 October 2011

poonam ji ....i was going to leave this chapter but after seeing this article im changing my mind ...but is your formula enough???im good at claim for loss of stock  so plz help me ...

Poonam Arun Sharma (student) (103 Points)
Replied 26 October 2011

Yes if u go accordn to steps it will be easy for u to solve the problems

Shefali (Research Analyst) (56 Points)
Replied 05 May 2014

Gr888 formula to remember the steps with ease.


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