01-18-2005, 10:08 PM
Hi shahid...
I have checked more details relating "donations"...
another point comes to my knowledge that if donations are given to "recognized" Angioes and the documented records are present then these donations can be calimed as expenes in financial statements...
ExampleABD Ltd donates to Shaukat Khanam Cancer Hospital (a recognized institute by govt.) Rs 100000....then ABD Ltd can present these Rs 100000 as expense in the profit and loss account...
The above details are from Javaid Zuberi's book "Company Accounts"...
Other than that i have never seen donations as expenses in the financial statements...
Ace
I have checked more details relating "donations"...
another point comes to my knowledge that if donations are given to "recognized" Angioes and the documented records are present then these donations can be calimed as expenes in financial statements...
ExampleABD Ltd donates to Shaukat Khanam Cancer Hospital (a recognized institute by govt.) Rs 100000....then ABD Ltd can present these Rs 100000 as expense in the profit and loss account...
The above details are from Javaid Zuberi's book "Company Accounts"...
Other than that i have never seen donations as expenses in the financial statements...
Ace
