Sir
By overlooking i accounted two times in company books same invoice related to fixed asset for FY 18-19 in Pvt Ltd company, IT and ROC return also filed.
how to rectified. can we rectified in FY 19-20. Please advice.
4 Replies
JATINDER KUMAR
(Accountant)
(3662 Points)
Replied 25 October 2020
You can pass rectification entry on 01.04.2019
Party Account Dr.
Cr. Fixed Assets
Party Account Dr.
Cr. Fixed Assets
ca1419$
(CA Article)
(37 Points)
Replied 27 October 2020
Sir
Is any impact in audit report or company reputation.
ca1419$
(CA Article)
(37 Points)
Replied 27 October 2020
Sir
Is any impact in audit report or company reputation.
Ravi Duseja
(Article)
(132 Points)
Replied 31 October 2020
In case amount is material from Co's Point of view, You need to consult with auditors.
you have to follow the Ind As 8 Guidelines. which requirement adjustment to be made in Opening balance sheet in there any error in Prior Period and which is discovered in current Period
you have to follow the Ind As 8 Guidelines. which requirement adjustment to be made in Opening balance sheet in there any error in Prior Period and which is discovered in current Period
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