Ipcc contract account
Mahalaxmi (job seeker) (1203 Points)
10 August 2013
i have a question on contract accounting,if notional lose is incurred then how shall i treat?
3 Replies
Rohit
(CA-Final)
(1485 Points)
Replied 10 August 2013
Transfer it to Statement of Profit and Loss Account.
Bharath M
(Webmaster)
(27 Points)
Replied 12 August 2013
As said by Rohit,
The total amount of Notional loss has to be transferred to Profit and loss A/C.
with regards,
Bharath M
factshunt.com
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