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Date of Financial Statements

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(Querist)
06 June 2022 A trust was registered on 25 August, 2021. However, the first financial transaction, i.e. transfer of corpus fund occurred on 5 November, 2021.

While preparing the financial statements for the period ended 31 March, 2022, what should be the headline on the top of the income & expenditure account :
"Income & Expenditure Account for the period from 5 November, 2021 to 31 March, 2022"
OR
"Income & Expenditure Account for the period from 25 August, 2021 to 31 March, 2022" ?

Shall be thankful for the reply.

Best regards
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
06 June 2022 "Income & Expenditure Account for the period from 25 August, 2021 to 31 March, 2022"
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