means of these lines
This query is : Resolved
Guest
Guest
(Querist)
04 October 2010
Plz book in prior period expenses account.
PLZ TELL ME THE MEANS OF THESE LINES. WHAT IS THE GROUP OF THESE LEDGER .
WHAT WILL THE ENTRY
PLZ SIR ITS URGENT .
PLZ TELL ME THE MEANS OF THESE LINES. WHAT IS THE GROUP OF THESE LEDGER .
WHAT WILL THE ENTRY
PLZ SIR ITS URGENT .
16 October 2010
hi,
Prior period expenses are those expenses which should have been booked in last FY but were ommitted.
Such expenses when traced in current FY are required to be shown separatey as per AS-5.
So the line means , that instead to debiting such expenses in any natural head , book them in separate head called "Prior Period"
Prior period expenses are those expenses which should have been booked in last FY but were ommitted.
Such expenses when traced in current FY are required to be shown separatey as per AS-5.
So the line means , that instead to debiting such expenses in any natural head , book them in separate head called "Prior Period"
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