Prior period expenses - revised schedule vi
This query is : Resolved
01 June 2015
Dear Experts,
As per AS 5,Prior period expenses need to be disclose to face of Profit and Loss Account Statement but where to disclose exactly in expenses . Please tell me below sequence of expenses is right ?
a)Cost of material consumed
b)Purchase of Stock-in-trade
c) Changes in Inventories
d)Employee Benefit Expenses
e) Other expenses
f) Prior Period Expenses
As per AS 5,Prior period expenses need to be disclose to face of Profit and Loss Account Statement but where to disclose exactly in expenses . Please tell me below sequence of expenses is right ?
a)Cost of material consumed
b)Purchase of Stock-in-trade
c) Changes in Inventories
d)Employee Benefit Expenses
e) Other expenses
f) Prior Period Expenses
01 June 2015
the exp shall be classified as per sch 3 only under the heads as given but needs to be seperately denoted under notes to accounts under p n l a/c
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