i came across a manufacturing tading and profit and loss statement
the trading account shows following account
opening stock, closing stock, purchases only
it fails to mention any direct expenses like frieght,wages,electricity or any other expenses directly related to manufacturing
and nor asre these expenses shown in profit and loss account
now is a CA liable?
these expenses are shown in Manufacturing Account and not in Trading account
yes because there no no fair presentation of financial statement. The accounts are not drafted as per schedule 6 also.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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CAclubindia
