Cut off?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 May 2012
Hi,
Can anyone explain me cut off procedures with an example? and in respect of which transactions this cut off procedures will work?
Can anyone explain me cut off procedures with an example? and in respect of which transactions this cut off procedures will work?
01 June 2012
Cut off procedures separation of transaction from one period and another say upto march 31, and after 31st march.This ensures that transactions and events are recorded in the proper accounting period.
For example at the year end in case of Inventories
(a) goods purchased but not received are included in the inventories; and
(b) goods sold but not despatched are excluded from the inventories
For example at the year end in case of Inventories
(a) goods purchased but not received are included in the inventories; and
(b) goods sold but not despatched are excluded from the inventories
Message likes :
1 times
01 June 2012
I agree with the expert's reply. The Cut off procedures are used to segregate the transactions from one accounting period to another accounting 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
- Taxable or Tax exempt
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- TDS Deducted AY-2013-14 Not Reflected in 26as
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- NRI starting business in India
- Demand Outstanding AY 2013-14 TDS Deducted not shown in 26as
- ADVANCE PAYMENT OF ADVOCATE
- Invertaded duty struture
- Query – TDS on purchase of land from NRI under Income-tax Act, 2025
- 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
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
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
