Can we change Opening Balance ?

Mr. Vijay Kr. Mishra

You cannot change the value of opening stock in the books of account.  As per the provisions of section 145A you can make adjustments in the statements only .

Best Wishes

Sathikonda

ya opening balance has to be same u can pas entry of 1st april for changes

The closing balance of a period and the opening balance of the same in the subsequent period should be uniform and cannot be altered. If there is any valuation differenc, it can be passed as an adjustment entry and as such, it can be entered into the accounts.

I agree. You cant make any changes. One more thing, just think......you have changed your opening closing stock value. Then would your trial balance ever meet?????????

WHY DONT YOU ASK YOUR LAWYER WHAT POINT CAN HE ACHIEVE OR PROVE BY ALTERING THE OPENING BALANCE EXACTLY ON THE 1ST DAY OF APRIL .... THAT HE CANNOT ACHIEVE IF THE REQURED ADJUSTMENT IS MADE ON ANY OTHER DAY THROUGHOUT THE FINANCIAL YEAR ...PLZ  ASK HIM ...AND POST HIS REASON ON THIS FORUM

SANJAY

u can't. If you change the opening that means it tantamount to malafide intention to It Dept