Disallowance
This query is : Resolved
22 June 2016
Hi All,
My query is, company has prepared Financial statement & having loss in that financial year & after certain disallowances it is moved to profit.
whether in the company's P&L A/c, that disallowed expenses be shown or not? if yes(shown) then company is in loss today, so EPS will be negative.
these expense are disallowed only for income tax purpose, hence the picture will depict as it is before disallownce. please correct me if i am wrong.
My query is, company has prepared Financial statement & having loss in that financial year & after certain disallowances it is moved to profit.
whether in the company's P&L A/c, that disallowed expenses be shown or not? if yes(shown) then company is in loss today, so EPS will be negative.
these expense are disallowed only for income tax purpose, hence the picture will depict as it is before disallownce. please correct me if i am wrong.
23 June 2016
Disallowance is only for Income tax purpose, it should not be shown in Financial Statements.
24 June 2016
Hi Ashwami,
thanks for sharing your views, that means allowed & disallowed both expenses will be shown in P&L A/c.
thanks for sharing your views, that means allowed & disallowed both expenses will be shown in P&L A/c.
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