whether details of rent should be disclosed in audit report
This query is : Resolved
26 August 2009
Hello everybody,
As per AS-19, whether details of rent paid during the previous year should be disclosed in notes to accounts?
As per AS-19, whether details of rent paid during the previous year should be disclosed in notes to accounts?
03 September 2009
Hi Shantanu Sharma,
discloures in the notes to accounts should be provided with the previous year details.
AS per AS-19 Leases - You should disclose the lease rentals as to upto 1 year, 1-5 years and 5 year and above etc... those conditions you need to satisfy,
However if the lease rentals paid above the lock - in period need not be disclosed (after non-cancellable period).
Incase of the any further details, just ping me.
Regards,
V R Nanda
discloures in the notes to accounts should be provided with the previous year details.
AS per AS-19 Leases - You should disclose the lease rentals as to upto 1 year, 1-5 years and 5 year and above etc... those conditions you need to satisfy,
However if the lease rentals paid above the lock - in period need not be disclosed (after non-cancellable period).
Incase of the any further details, just ping me.
Regards,
V R Nanda
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