FINAL ACCOUNTS
This query is : Resolved
Guest
Guest
(Querist)
15 March 2011
how should the short provision of taxation for the earlier year be treated?
should it be debited to p&l a/c as it is a change in accounting estimate as per AS-5 or
debited to p&l appropriation a/c?
should it be debited to p&l a/c as it is a change in accounting estimate as per AS-5 or
debited to p&l appropriation a/c?
15 March 2011
yes this is change in accounting estimate as per AS-5. provision should be increase and bebited to p&l a/c. disclosure should be made according to AS-5.
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