Dear Sir,
Can you please Guide.... Share of profit from profit sharing arrangement between two Company for sale of Product is classified under other Income or Sales.?
Grouping of Profit Sharing Arrangment
(Guest)
2 Replies
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 15 April 2021
It should be shown as Income not sales as it is the profit which have earned according to the share of profit as per arrangement
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 15 April 2021
Sales Revenue= parent + subsidiary
Profits attributable to shareholders / owners equity= NCI method
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