Hi All,
Please help me to understand why accruals are not made with auto reversal during year end of accounting..
Also , pls let me know , What the company would do on the excess accruals made during year end?
Regards,
Menu
Accruals not reversed during year end
Replies (4)
Quick Summary
Please Elaborate , what you exactly want to asked
Please elaborate
Need your help for the below 3 questions..
1.Generally Accruals are auto reversed in the subsequent months. But during Yearend alone, accruals are made in Standard mode and not in reversal mode. Why?
2.Also, If the expenses are very less than the accruals, how that excess accruals would be treated during year end?
3.What if, Accrual not made in the month, how the profit/loss statement would be ?
Regards,
Auto accruals are there in some software but before reversal I being the head of accounts department know which expenses are already booked.
Recent Topics :
- Practical queries on buy back of shares
- Any faculty recommendations for latest batch recor
- FAI & FAST-DS 2026 query
- Is GST registration mandatory in this case
- Buying a residential flat in Goa: should my wife b
- Income tax filling
- Applicability of RCM in the case of import of serv
- Confusion in gst registration for service category
- Itc claimed from return defaulters
- Gst input credit
Related Topics :
CAclubindia
