MANAN VORA (accountant) (55 Points)
20 August 2009Sir,
While preparing C.B.S. ,How to treat unrealised profit on closing Stock (up stream / down stream) ? Is there any new amendment according to which the total unrealised profit on stock is deducted from P& L of Holding on liabilty side at the same time from Stock ?
Pritesh Dholakia
(Audit Assistant )
(44 Points)
Replied 20 August 2009
u need to check whether its upstream transaction or down stream transaction accordingly CFS effect will be given.
Pradip Srinivasan
(CA Final)
(869 Points)
Replied 20 August 2009
In case of upstream it will get deducted in Minority Interest and from the P&L a/c of holding co. Whereas down stream will not have effect in MI.
MANAN VORA
(accountant)
(55 Points)
Replied 20 August 2009
| Originally posted by :Pradip Srinivasan | ||
| " | In case of upstream it will get deducted in Minority Interest and from the P&L a/c of holding co. Whereas down stream will not have effect in MI. | " |
Thanks for your reply
CAclubindia
