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Treatment of arrears

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Querist : Anonymous

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Querist : Anonymous (Querist)
13 October 2014 Dear Sir,
I want to know the treatment of an event.

We received an electricity bill which has got arrears. Such arrears are due to revision of electricity rates of previous two years with retrospective effect. Such arrears are huge in amount which effects my profit. What is the treatment that should be done in my books???
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
13 October 2014 Show it under exceptional item.
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@VaibhavJ

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@VaibhavJ (Expert)
13 October 2014 It will be P&L item, by moving to exceptional item you can maintain EBIDTA.

Thanks
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