Balance Sheet for first Financial Year

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Artical Executive
96 Points Posted on 29 November 2019

Dear Experts,

One of my client opened a company on 23/02/2018 but the problem is how to fill the data in AOC-4 in P&L and BS given column

what is the right procedure

1. Previous year 23/02/2018 to 31/03/2018 and Current Year 01/04/2018 to 31/04/2019

2. Previous year blank and current year 23/02/2018 to 31/03/2019 

i have attached screen shoot please check and confirm me. is it right way to fill the form 

 

Thanks

Attached File : 1267429 20191129132611 aoc 4 problem.pdf downloaded: 141 times
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On 29 November 2019 at 13:26 Report
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Practicing Company Secretary @ RASHI JAI
989 Points Posted on 22 March 2020
Both the methods are correct.
It is recommended that the first financial year should be considered from the date of Incorporation till the end of financial year (31st march of following year) but if a company is incorporated in the first quarter of the year then it can be continued till the next financial year end.
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On 22 March 2020 at 00:02
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"Do the Right Thing...!!!"
77792 Points Posted on 22 March 2020
Yes... I agreed to Mr Rashi Jain reply...

@ Mr Shobit.,

Your details is correct. Also You can consider Mr Rashi Jain's reply for PY's (23/02/18 to 31/03/18) transactions into CY's values...
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On 22 March 2020 at 08:08
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Manager
20826 Points Posted on 22 March 2020

Well answered miss Rashi

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On 22 March 2020 at 11:46
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Practicing Company Secretary @ RASHI JAI
989 Points Posted on 22 March 2020
Thank you sir just trying to learn from everyone and we are here to help each other professionally.
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On 22 March 2020 at 11:55

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