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survesh (Querist)
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17 November 2010 Respected Sir,

I Am accounting Catters (Mess) Supply Snacks,Lunch,Dinner to Companies on Contract Basis.

1)Please Say should i prepair Income & Expen Ac or Profit and Loss Ac

2) Should closing Stock be considered.

3) What are the Items Consider in Direct Exp & Indirect Exp.

4)Is any Accounting standard to be followed.Please Say or any instructions.

5) Some Ideas for Expenses Head for Catter Service
Please Reply as soon as possible.

CA Shailesh Kumar Bhagat

CA Shailesh Kumar Bhagat (Expert)
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20 November 2010 See, if you are doing the business for profit, you must prepare profit / Loss account.

You have to maintain the stock to get the correct amount of profit / Loss.

I think , in your case all administrative exp are indirect cost.

AS is applicable based on nature of business concern.

survesh

survesh (Querist)
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20 November 2010 Nature of Business:Cattering Services

Status: Proprietry

Turnover: 40,0000.00

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