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Final Accounts

Why preparing income & expenditure account for contract business ( builders ) instead of trading , profit & loss account ?


BALAMURALI UNNITHAN M S

BALAMURALI UNNITHAN M S

CA Inter

2K+

28-Jan-21 19:02

9

Answers (8)

Trading involves buying and selling of goods. You can prepare profit and loss account as well.


Suraj Lakhotia

Suraj Lakhotia

Admin

29-Jan-21 05:57

For contractors [ Building Developers ] prepare income & expenditure account or trading , profit & loss account ? Which can choose ?


BALAMURALI UNNITHAN M S

BALAMURALI UNNITHAN M S

CA Inter

2K+

29-Jan-21 08:31

For contractors [ Building Developers ] prepare income & expenditure account or trading , profit & loss account ? Which can choose ?

Company - SCH III Others - can choose as per their choice.


Suraj Lakhotia

Suraj Lakhotia

Admin

29-Jan-21 10:21

Income & expenditure account is used for non profit organisations , its also used for other constitutions ?


BALAMURALI UNNITHAN M S

BALAMURALI UNNITHAN M S

CA Inter

2K+

01-Feb-21 21:32

Means services ?


BALAMURALI UNNITHAN M S

BALAMURALI UNNITHAN M S

CA Inter

2K+

02-Feb-21 09:59

Means services ?

Yes


Suraj Lakhotia

Suraj Lakhotia

Admin

03-Feb-21 08:52

Thank u


BALAMURALI UNNITHAN M S

BALAMURALI UNNITHAN M S

CA Inter

2K+

03-Feb-21 09:13