Statement of profit and loss (sopl)
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
19 July 2013
Is preparation of SOPL compulsory
(a) for a company which is a start up company and is incurring expenses only on fixed assets
(b) for a company which had charged off its fixed assets in an year and hence prepared SOPL in that year. After that year two years have elapsed and hence for the current year it has Nil balances in the entire SOPL for both current year and previous year. SOPL with only Nil amounts is looking odd.
Companies Act requires both balance sheet and SOPL to be prepared for every year, on that basis should i prepare SOPL this year
Kindly help in this regard
(a) for a company which is a start up company and is incurring expenses only on fixed assets
(b) for a company which had charged off its fixed assets in an year and hence prepared SOPL in that year. After that year two years have elapsed and hence for the current year it has Nil balances in the entire SOPL for both current year and previous year. SOPL with only Nil amounts is looking odd.
Companies Act requires both balance sheet and SOPL to be prepared for every year, on that basis should i prepare SOPL this year
Kindly help in this regard
19 July 2013
even for nil figure its mandotory to fill and provide for sopl.
Guest
Guest
(Expert)
20 July 2013
Ya, it has to be prepared for nil fig also.
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