I am a student preparing for the Nov 2019 Intermediate examination. My query is regarding the entry for recording the first journal entry,
i.e.,
Employee Stock Compensation Expense A/C Dr
To Employee Stock Option Outstanding A/C
The dates given are really confusing.
In the textbook, it is given it should be recorded at the ,for eg. 31st March of the year i.e., year end
However,
My tutor has taught me the first entry should be dated in the very first day i.e., 1st April of the previous year, i.e., beginning of the financial year.
What to do ? Which one is correct?
Could somebody clear it out?
CAclubindia
