Check sibling questions

In case of Manufacturing Companies,Stock is of 3 types

  • Raw Material and Consumables
  • Work in Progress
  • Finished Goods

 

 Hence ,there will be changes in 3 points coloured in Red below

(All other points same as for Trading Companies)

Profit and Loss as per Schedule III for Manufacturing Companies (Factories) - Making Revised Schedule III Balance Sheet

 

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Davneet Singh

Davneet Singh is a graduate from Indian Institute of Technology, Kanpur. He has been teaching from the past 12 years. He provides courses for Maths and Science at Teachoo.