After 31.3.10 a board resolution has been passed to increase d salary of employees retrospectively from 1.04.09. assume d books has not been closed , then how it will be accounted ? thro AS-4? if so is it Adjusting event r non adjusting event? can it be considered as extraordinary item?
2 Replies
Kumar Gaurav
(Going...to be C.A soon...)
(1624 Points)
Replied 28 July 2010
i guess it would be events occuring after the balance sheet date..........as board resloution has been passed after 31.03.2010................Events which occur between the balance sheet date and the date on
which the financial statements are approved, may indicate the need for
adjustments to assets and liabilities as at the balance sheet date ormay require
disclosure.
waiting for response from others seniors.
CA Rahul Jain
(Job)
(148 Points)
Replied 28 July 2010
it is adjusted event occuring after the balance sheet as it is further provide condition exsting on the b/s date so it would require adjustement in the financial accounts
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