Rectification of errors
This query is : Resolved
16 October 2011
IF DURING A FINANCIAL YEAR IF IT IS FOUND THAT A PARTICULAR JOURNAL ENTRY HAS NOT BEEN RECORDED IN THE COMPANY'S BOOKS OF ACCOUNTS AND THE ACCOUNTS ARE ALREADY FILED FOR TAX AUDIT PURPOSE, IS IT POSSIBLE THAT DURING NEXT FINANCIAL YEAR A RECTIFICATION ENTRY CAN BE PASSED & THE MISTAKE RECTIFIED IN THE COMPANY'S BOOKS OF ACCOUNTS?
16 October 2011
Prior period adjustments is the solution.
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