Friends,
Pls provide calculation of Notional profit Rs. 58500. in problem no. 9
Attached File : 408827 881057 19725ipcc ca vol1 cp6.pdf downloaded: 230 times
Friends,
Pls provide calculation of Notional profit Rs. 58500. in problem no. 9
calucation of 58500 given in ur attachment...so wats d problem..??
SANDEEP,
Here the Notional Profit is balancing figure, It is just like a gross profit calculations, You have given all the cost you have incurred and closing stock of materails. You have also the figure of sales i.e, Value of work certified and Value of work uncertified. So, It is just a balancing figure.
Notional Profit = Work Certified+ Work Uncertified - Cost Incurred So Far
You may also refer follwing link
www.caclubindia.com/forum/details.asp
For best understanding of concept and then largest numbers of practice sessions with most economical fee and free study material and library facility, join: SUSH INSTITUTE OF PROFESSIONAL LEARNING(SIPL), NALLAKUNTA, HYDERABAD
COACHING FOR CA-CPT AND IPCC AND FOR CS-FOUNDATION, EXECUTIVE AND PROFESSIONAL AND FREE STUDY MATERIAL FOR ALL THE PAPERS.
0-9397006637
Shyam Joshi & Associates
Pune
B.Com
View Details
CAclubindia
