Accounting treatment
This query is : Resolved
16 November 2012
how treat performance incentive of sales relating to FY2011-12 which is identified in the year 2012-13,either as prior period item or current period item?
20 November 2012
The performance is a current period item even though it is calculated on the sales of the previous year. The expenditure/amount is determined in the current year although the basis is sales figures for the previous year.
Prior period expense is an expense which is omitted due to mistake or oversight.
Prior period expense is an expense which is omitted due to mistake or oversight.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Distinct person & regular person POS
- INCOME TAX NOTICE QUESTION
- Need Conversion process of CA Proprietary firm to CA Partnership Firm
- Capital gain on sale of resident house by non-resident Indian
- Clarification on Inventory
- Whether to file ITC 03 for downward GST rate revision - Reg.
- Query Regarding Error in Establishing Connection with Traces WebSocket eSigner
- Regarding claiming exemption under section 54ec
- E INVOICE NOT ENABLE MY TURNOVER ABOVE 10 CR
- Assessee have two pan cards.unable to answer the reassessment proceedings due to non linking aadhar
- GSTR 9- Annual Return for 2024-25
- Input Tax Credit Treatment For Hotel Service Provider.
- Income tax on withdrawal of PF
- HIGHER TDS DEDUCTION ON SALARIED EMPLOYEE IN CASE OF INOPERATIVE PAN
- Query ON belated tds deduction
- EXCESS CREDIT REALTED GST REVERSAL
- Export invoice not reported
- CA Articleship Extension Matter
- GST OFFICER WRONG NOTICE
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
Trending Online Classes
-
Live Course on GSTR 9 & 9C for FY 24-25(Detailed discussions, FAQ, Case studies and Live demo of GSTR 9/9C on GST Portal)
Industry Expert16 November 2025
CAclubindia
