MD**** Thank you for your post and the explanation. As a person with an accounting and legal background, I fully understand and agree with what you say. However, I was reading Barad’s post between the lines and what it insinuated. Hence my queries to him. I am still waiting for the information. ****
** ** Regards**** ** ** ** ** Marshall**** ** ** *I believe for any ongoing business an annual budget is set up, could be a* *deficit as well. But by the time the Auditors complete window dressing the * *budget and present it at the AGM, the picture could be different, depending * *on the current economic conditions, the revenue, cash flow picture could be * *quite different.* * * *The management in many large companies contracts are drawn when the* *directors etc are appointed and their salary, perks or annual bonus depends * *on the contract and not the actual annual profit the company earns. So the* *western phobia of balancing the budget does not make much sense. Indian* *Railways may have been incurring operating losses, but they are not closed* *down!!* * * *This is what I feel.* *MD.* ** **
