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 ?
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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.
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