Changing the grouping of financial stat
This query is : Resolved
Vipul Poojari
(Querist)
17 May 2013
Sir,
if we want to change the grouping in the financial statement for a particular item
Then should we change the grouping of the same item in the corresponding financial statement of the previous year....?
Please Suggest...
if we want to change the grouping in the financial statement for a particular item
Then should we change the grouping of the same item in the corresponding financial statement of the previous year....?
Please Suggest...
CA DILIP KUMAR
(Expert)
17 May 2013
Yes you can do the same
Vivek Hebbar
(Expert)
19 May 2013
Dear Vipul
You have to do the same. The figure would be comparable only on doing the same. You also have to add a note in the notes to accounts "The previous year's figures have been regrouped / reclassified, wherever necessary to conform to Current Year's presentation."
You have to do the same. The figure would be comparable only on doing the same. You also have to add a note in the notes to accounts "The previous year's figures have been regrouped / reclassified, wherever necessary to conform to Current Year's presentation."
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