provisions, prior period income/expenditure

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 June 2010 Should we take provision created but not utilised and that provision is not reversed after the complition of time period.Should we treat it as prior period income as per AS4

daya shankar singh

daya shankar singh (Expert)
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17 June 2010 This shall not be consider as prior period item but it may consider as change in accounting estimates as per AS-5 and accordingly show as seperate item in p/l a/c