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May 15, 2026, 10:45:28 am
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Author Topic: Budgeted Profit and Loss  (Read 923 times)  Share 

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nbalakers24

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Budgeted Profit and Loss
« on: October 08, 2009, 04:39:37 pm »
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Hi

Do we include profit on disposal of NCA in other revenue in a budgeted statement?

Cheers
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Flaming_Arrow

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Re: Budgeted Profit and Loss
« Reply #1 on: October 08, 2009, 04:43:21 pm »
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Yes
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nbalakers24

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Re: Budgeted Profit and Loss
« Reply #2 on: October 08, 2009, 04:59:40 pm »
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strange, some teachers say you dont, even if they are expecting a profit.

do you have a source? i do not :S lol

cheers
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Flaming_Arrow

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Re: Budgeted Profit and Loss
« Reply #3 on: October 08, 2009, 05:01:13 pm »
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Quote from: nbalakers24 on October 08, 2009, 04:59:40 pm
strange, some teachers say you dont, even if they are expecting a profit.

do you have a source? i do not :S lol

cheers

it's kinda straight forward, it increases owner's equity so it would go in the profit and loss statement, plus you record loss on dispoal of asset so why wouldnt u record profit?

EDIT: look at the cambridge accounting textbook
« Last Edit: October 08, 2009, 05:04:35 pm by Flaming_Arrow »
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nbalakers24

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Re: Budgeted Profit and Loss
« Reply #4 on: October 08, 2009, 05:53:00 pm »
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k thanks, strange how teachers say you dont:s
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