what is memorandum reconciliation a/c in costing??? nd wat is d difference b/w the reconciliation statement nd dis a/c
cn i hv its format
ASHISH YADAV
(Chartered Accountant)
(119 Points)
Replied 09 June 2009
hi prateek
memorandum reconcilation a/c is only a account which is informal or u can say for rough calculation made in this a/c .there is no standard format for it any one can use its own. its like u use rough sheet in exams
prateek
(CA Final)
(355 Points)
Replied 09 June 2009
bt cn u plz chek d yesterday's paper of pcc cost fm
dey askd to prepare memorandum reconciliation a/c in Q-3(a)
ASHISH YADAV
(Chartered Accountant)
(119 Points)
Replied 09 June 2009
I have seen the paper it shows that reconcilation of cost record with financial record
this is only a reconcilation or say the matching of cost records with finacial records that what items are not taken either in cost or financial which effected the profit & Loss A/c .
In the question only relevent information is given.
So either u make whole P&L A/c for both for cost & Financial records, but it is not possible to do so due to non availabilty of information.
so the memorandum reconcilation a/c had been prepared. Its only extract of the information given . You can adopt any format and can take base by cost record or financial record.
A account had both debit side and credit side its the standard format. items u have to pick from the question
sowmya
(ca final student)
(26 Points)
Replied 06 January 2011
I hav prepared memorandum reconciliation statement instead of account... will i lose 8 marks? pls reply....
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