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to provide or not

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Dhanraj (Querist)
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23 September 2009 Respected experts

Please tell whether we should provide for the electricity, telephone etc.expenses on 31.3.2009 if the if we get the bill in the April 09.

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Rajeev (Expert)
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24 September 2009 yes ofcourse , provision has to be made for all known expenses/liabilities - mercentile system of accounting

Manmohan ACA, CS

Manmohan ACA, CS (Expert)
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24 September 2009 agree

Anjani Pratap Tiwari

Anjani Pratap Tiwari (Expert)
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24 September 2009 yes agreed

CA Devanshi Gandhi (Ajani)

CA Devanshi Gandhi (Ajani) (Expert)
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24 September 2009 agree

CA RAMESH KUMAR AHUJA

CA RAMESH KUMAR AHUJA (Expert)
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24 September 2009 Yes, otherwise the expenses paid and booked in next year are liable to be disallowed as prior period expenses.

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