Previous/prior period exp- clarification
This query is : Resolved
Suheel Ahmed
(Querist)
12 June 2009
Transaction/expenses related to
01.02.2009 to 26.02.2009
Whereas Bill date : 28.04.09
Bill Value : 50,000/-
Nature : Contract for Dewatering Works
(Maintenance)
Whether the above expenses can trated as previous year expenses/it is accounted
in current year ????
Please, answer with reason.
Transaction/expenses related to
01.02.2009 to 26.02.2009
Whereas Bill date : 28.04.09
Bill Value : 50,000/-
Nature : Contract for Dewatering Works
(Maintenance)
Whether the above expenses can trated as previous year expenses/it is accounted
in current year ????
Please, answer with reason.
12 June 2009
it is the exp of current year (08-09) . it does not take any effect from its bill date becz exp relates to the year 08-09.- Matching concept.
Suheel Ahmed
(Querist)
12 June 2009
Sir, thanks a lot.
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