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Provision for bonus not done in books

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 December 2009 Private limited company has not provided for Bonus for the year end 31/03/2009(no provision for bonus) in its books of accounts siting not enough money or profit. what are the implications? whether any note to be provided in the Notes to accounts? To be qulified in Audit report? pls advice.
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CA Balram Sharma

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CA Balram Sharma (Expert)
05 December 2009 Ya provision should be there in the books of accounts,

if company doesn't made the provision you my qualify the report
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