Scholarship provided in school
This query is : Resolved
Querist : Anonymous
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
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
24 December 2013
Provision must be provided for payments to be made next year.
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