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any accountants willing to offer a little advice?

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Old 02-10-2007, 6:45 AM   #1
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any accountants willing to offer a little advice?
i am in need of a quick answer to a question if anyone knows:
if a company makes a net loss one financial year and a profit the next, is that loss then offset against the profit?

many thanks in advance!!!
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Old 02-10-2007, 6:56 AM   #2
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Re: any accountants willing to offer a little advice?
Yes
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Old 02-10-2007, 6:59 AM   #3
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Re: any accountants willing to offer a little advice?
assuming that it's a trading loss, yes, as Russell says

Martin
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Old 02-10-2007, 7:04 AM   #4
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Re: any accountants willing to offer a little advice?
cool, thanks guys!
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