to provide or not
This query is : Resolved
23 September 2009
Respected experts
Please tell whether we should provide for the electricity, telephone etc.expenses on 31.3.2009 if the if we get the bill in the April 09.
Thanks
Please tell whether we should provide for the electricity, telephone etc.expenses on 31.3.2009 if the if we get the bill in the April 09.
Thanks
24 September 2009
yes ofcourse , provision has to be made for all known expenses/liabilities - mercentile system of accounting
24 September 2009
agree
24 September 2009
yes agreed
24 September 2009
agree
24 September 2009
Yes, otherwise the expenses paid and booked in next year are liable to be disallowed as prior period expenses.
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