prior period item

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DEVAKI (Querist)
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19 May 2010 how to show prior period expense in balancesheet as per schedule VI format or just note to be added in notes to accounts ?

CA Simant Kumar Doshi (Expert)
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19 May 2010 Prior period item is not shown in balance sheet. it is an line item added in P&L Account.

CA. BIJENDER KR. BANSAL (Expert)
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19 May 2010 Agreed with experts. Prior period items are shown in profit & loss a/c below the line i.e. where approriaton of profit & loss are made.

CMA RV Padmakumar.A (Expert)
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19 May 2010 As per AS 5, prior period expenses if material

should be shown as an expense in the p/L a/c

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