Accountancy, asked by raminibrahimzada142, 5 months ago

According to which form profit & loss of banking companies is prepared ? ​

Answers

Answered by mehak809
5

Answer:

ADVERTISEMENTS: Banking companies are required to prepare their Profit and Loss Account according to Form B in the Third Schedule. Form B is in a summary form and the details of various items are given in the Schedules.

Answered by siyonjoby
1

Answer:

The Profit and Loss Account of a banking company must be prepared as per Form B of the Act in vertical form like Balance Sheet.

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