As - 5
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 November 2012
Can we show prior period expenditure as a head of expenditure in Receipts & Payments.
07 November 2012
Prior period items are normally included in the determination of net
profit or loss for the current period. An alternative approach is to show such
items in the statement of profit and loss after determination of current net
profit or loss. In either case, the objective is to indicate the effect of such
items on the current profit or loss.
profit or loss for the current period. An alternative approach is to show such
items in the statement of profit and loss after determination of current net
profit or loss. In either case, the objective is to indicate the effect of such
items on the current profit or loss.
Message likes :
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CA SAYANTAN BASU
(Expert)
07 November 2012
1. IN THE RECEIPT AND PAYMENT ACCOUNT EXPENDITURE OF ANY YEAR AND RECEIPT OF ANY YEAR WILL COME ..... SO ANY EXPENDITURE RELATED TO PREVIOUS YEAR CAN COME IN THE R&P A/C ...
2. BUT PRESENTATION IF YOU SHOW YEAR WISE IT IS BETTER .....LIKE SALARY OF 2009-10 CAN BE SHOWN LIKE SALARY A/C (2009-10 ) INSTEAD OF SHOWING PRIOR PERIOD EXPENDITURE WHILE PREPARING RECEIPT AND PAYMENT ACCOUNT 2012-13 ...
HOPE THIS HAS SOLVED YOUR QUERY ....
2. BUT PRESENTATION IF YOU SHOW YEAR WISE IT IS BETTER .....LIKE SALARY OF 2009-10 CAN BE SHOWN LIKE SALARY A/C (2009-10 ) INSTEAD OF SHOWING PRIOR PERIOD EXPENDITURE WHILE PREPARING RECEIPT AND PAYMENT ACCOUNT 2012-13 ...
HOPE THIS HAS SOLVED YOUR QUERY ....
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