Accruals and Provisions
This query is : Resolved
Ahmed Siddiqui
(Querist)
12 June 2010
Dear Freinds,
Please Guide me as I am non Commerce, my question is why it is necessary to Pass the Accrual Entry for Salaries of regular month?
Why Provisions entry is necessay to be passed?
kindly help me.
Please Guide me as I am non Commerce, my question is why it is necessary to Pass the Accrual Entry for Salaries of regular month?
Why Provisions entry is necessay to be passed?
kindly help me.
CMA Ramesh Krishnan
(Expert)
13 June 2010
If we are following Mecantile system of Accounting we need to book the expenses and income on accurred basis as when the actual expenses and income incurred or related then only we can arrive the correct profit or loss for the particular period
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
- Depreciation Chart Companies Act
- EPF ECR NEW FILE SEP 17TH 2026
- Capital Gail Exemption Certificate
- GST on Renting godown to KFCSC for Storage of Raagi
- SECTION 393(3) TAX ON CASH WITHDRAWAL
- Clarification Requested: Gift → NRO → NRE → Overseas Transfer - USA/CANDA (FEMA & Tax Compliance)
- Under marginal scheme
- Import of Software Service.
- TAX AUDIT ON PROFESSIONAL INCOME
- Utilisation Fy 25-26 TDS challans in Fy 26-27 TDS Return
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
