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

Balamurali Unnithan M S

CA Inter

★ 3K+

28-Jan-21 19:02

295

Answers (8)

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

CA Suraj Lakhotia

Admin

29-Jan-21 05:57

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

Thread Starter

Balamurali Unnithan M S

CA Inter

★ 3K+

29-Jan-21 08:31

Thread Starter

Balamurali Unnithan M S

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.

CA Suraj Lakhotia

Admin

29-Jan-21 10:21

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

Thread Starter

Balamurali Unnithan M S

CA Inter

★ 3K+

01-Feb-21 21:32

Thread Starter

Balamurali Unnithan M S

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

Professionals

CA Suraj Lakhotia

Admin

02-Feb-21 08:43

Means services ?

Thread Starter

Balamurali Unnithan M S

CA Inter

★ 3K+

02-Feb-21 09:59

Thread Starter

Balamurali Unnithan M S

Means services ?

Yes

CA Suraj Lakhotia

Admin

03-Feb-21 08:52

Thank u

Thread Starter

Balamurali Unnithan M S

CA Inter

★ 3K+

03-Feb-21 09:13

SM Marathon Part- 2 with Suraj Sir! YT Live

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