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prior period item

This query is : Resolved 
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(Querist)
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 ?
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CA Simant Kumar Doshi

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

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CA. BIJENDER KR. BANSAL (Expert)
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.
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CMA RV Padmakumar.A

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CMA RV Padmakumar.A (Expert)
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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