prior period items??
This query is : Resolved
24 January 2011
what is basis taking an expense as prior period items.... either
(a) exp after 31 march
or any other ???
(a) exp after 31 march
or any other ???
25 January 2011
Prior perid item means expenses debited to profit & loss account which pertains to last Year. If a person inadvertantly forget to debit in the account the expenses of that year and debit that expenses in the next year , it is called prior perid item.
Message likes :
1 times
27 January 2011
If due to any error or omission if a person forget to account any expenses (which pertains to P.Y) in the previous year and accounts the same in current year such expenses are called prior period items & separate disclosure is required for such items in the Financial Statements
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- GST on export of services and Input Credit
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Applicable TDS rate for sale of property in Nov 2024
- Can we claim ITC of Feb-2024 in the month of November-2024 which was not claimed by oversight
- MIS MATCH OF INVOICE NUMBER
- VERIFICATION OF REFUND RELATED
- GST Regis.
- ITC c/f from FY2022-23 to FY2023-24 entered the same in table 8C of GSTR9 of FY 2022-23, in FY23-24
- Late filling fees Demand by gst office
- IGST Credit-Show cause notice issued-confusion
- Short and Excess provision of expenses
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
Trending Online Classes
CAclubindia
