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we have garments company in with we purchase rags from different countries through shipment and sale it into local market. due to lack of finance we introduce different investor and make a pool and share profit on agreed terms( let suppose 4 partner equally share profit and expense). in current scenario we have to purchase purely for our company and also for pool. we can categories pool purchases and local purchases(same for sales also).
i am confused in accounting treatment.... which accounting head we use and how to track profit and invesment.
need assistance urgently. i will be thanfull
i am confused in accounting treatment.... which accounting head we use and how to track profit and invesment.
need assistance urgently. i will be thanfull