Refer to above subject.
The company has a branch in Ayuthaya has faced a natural disasters Eg flood.
What is the accounting entry of recognition and measurement of loss on the property,plant and equipment and closing stocks damage.
What is the correct accounting name to be given, how was the double entry look likes and in which lines should i report in management report.
The content of the management report:-
Sales xxx
Cost of Sales xxx
Gross Profit/(Loss) xxx
Admin expenses xxx
Finance Costs xxx
Profit/(Loss) xxx
Other Income xxx
Profit/(Loss) b4 tax xxx
Corporate Tax xxx
Profir/(Loss) after tax xxx