17 May 2013
Sir, if we want to change the grouping in the financial statement for a particular item Then should we change the grouping of the same item in the corresponding financial statement of the previous year....? Please Suggest...
You have to do the same. The figure would be comparable only on doing the same. You also have to add a note in the notes to accounts "The previous year's figures have been regrouped / reclassified, wherever necessary to conform to Current Year's presentation."
CAclubindia
