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Loss of Profit Topic
Accountancy
Sir, Generally when we are given an Upward Trend in Sales, we will apply it in Standard Turnover and make it Adjusted Standard Turnover,Also we will apply the trend in Annual Turnover and make it Adjusted Annual Turnover, But we don't apply it in Previous Years Turnover (Used to find GP Ratio in Loss of Profit Policy), But in Illustration 9 (Buildwell Ltd), The Trend is also taken in Previous yar Turnover, Why is that? Please Clarify.
Answers (5)
Thread Starter
Asim SaifHere it is.
In this question, they have specifically given adjustments to be made.
CA Suraj Lakhotia Admin
In this question, they have specifically given adjustments to be made.
Ok Sir, So if the Figures are directly given instead of Trend rate, We should take the Figure value right? But it is clearly saying that they are Estimated Gross,l, When taking Previous year sales, How can we take Estimated figures when actuals are given?
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