My CA forgot to write an entry as receivables in last financial year's (FY20-21) balance sheet and filed it as received based upon form 26AS. (The amount was my professional charges for the month of March 21 that was paid to be in April). Can I correct my last year's balance sheet now ?
Menu
Correction in balance sheet
Replies (1)
No , As per AS-5 or INDAS-8 whatever applicable to you , You can show prior period Income separately in current year Profit and loss account as "Prior period Income F.Y 20-21 ". please refer accounting standards.
Recent Topics :
- TDS return filing
- Need formats of FS as per Co act 2013 in soft copy
- Remittance to italy
- Invoice made but goods not sent
- How Do CA Firms Manage Client Document Collection
- How do CA firms manage pending client documents du
- How to find a good CA
- Rcm on rent paid
- Clarify on GST Application
- Residential status for overseas students visitin
Related Topics :
CAclubindia
