Difference between Lacs and Lakhs in Indian Accounting parlance
Its the same. *Manish…*
On 9/12/07, SRD wrote: > > > Hi, > > This might be a silly question to ask but i have got conflicting > answers from various sources, hence wanted to verify from the informed > sources. > > Is there any difference between Lacs and Lakhs? Most of the Indian > sources as well as Wikipedia says both are same and amounts to 100000. > Whereas i came across this site (http://www.ebearing.com/rupees- > explained.htm) which mentions that some of the India based MNCs use 1 > Lac = 10 Lakhs = 1 Million in order to be par with the global > accounting standard. > > I’m asking this because Indian companies’ annual reports > interchangeably uses both Lakhs and Lacs for their financial figures. > > Thanks in advance, > SRD > > > > >
