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Querist : Anonymous

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Querist : Anonymous (Querist)
04 April 2010 Dear,

Thanks for your answer,but still i have doubt, for recording a prior period item are we need to create a new account for prior period expenses ? please give details
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Rahul Gupta

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Rahul Gupta (Expert)
04 April 2010 Yes. You are required to create a separate accounts and it is presented separately in the P&L A/c.
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CA Shiv

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CA Shiv (Expert)
05 April 2010 Open an account name as priod period expenses in profit and loss account only...
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