Accounts query
renuka (Student) (480 Points)
04 November 2013
What is employee profit sharing a/c? Is it treated as reserve or liability?
2 Replies
VIKASH KUMAR JAIN
(Audit Executive)
(711 Points)
Replied 04 November 2013
Hi renuka.
Employee profit sharing a/c seems like Incentive a/c. from which profit will be distributed to employees.So it can be taken as liabllity agnst. incentive to employees.This is my personal view only.Let's check what other say.....
renuka
(Student)
(480 Points)
Replied 04 November 2013
Even I felt the same but in RTP they have shown it under Reserves and Surplus
Recent Topics
- Income Tax Refund Deadline Shortened to Five Years
- Rectification Applications for Past GST Demands
- Where can I find a trusted provider to hire a skip
- GST Invoices Series
- FILING OF ITR AY 20-21
- CLAIMING OF U CLAIMED RCM
- Building construction works
- REGARDING GSTR-9 F.Y 2023-24
- Rectification to decrease income in SCHEDULE OS
- Can Statutory Auditor of a subsidiary become concu
Related Threads
CAclubindia
