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Bill received in next accounting year related to previous yr

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Querist : Anonymous

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Querist : Anonymous (Querist)
13 April 2012 If a bill dated 12/02/2011 is received on 21/5/2011, then how will we account for it in our records ?
What are the related provisions stated by ICAI in this regard ?
As the financial statements have already been prepared as at March 31,2012.



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CA Kishore Tallam

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CA Kishore Tallam (Expert)
14 April 2012 If the bills pertains to services prior to March 2011, then the same shall be accounted as prior period expenses in march 2012 if the expense is a material amount.
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