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Querist : Anonymous

Querist : Anonymous (Querist)

07 November 2012 Can we show prior period expenditure as a head of expenditure in Receipts & Payments.

CA Manish

CA Manish (Expert)
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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.

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CA SAYANTAN BASU

CA SAYANTAN BASU (Expert)
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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 ...

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