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Scholarship provided in school

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Querist : Anonymous

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Querist : Anonymous (Querist)
24 December 2013 In a school, scholarship is provided to a student after the session ends.
For eg if Student A gets Rs 1000 for securing 1st position in class IX, which he gets in class X..
So whether this scholarship given should be treated as prior period expense or whether we should make a provision?
Please suggest
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
24 December 2013 Provision must be provided for payments to be made next year.
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