Hello Everyone..
Can someone Please Explain me the Difference between the following:
1. Payable Expense & Outsanding Expense.
2.Extraordinary Items & Exceptional Items
Thanks in advance ...!
Ankit
(CA, CS)
(3064 Points)
Replied 26 October 2012
Dear Kesha,
Payable and O/s expenses is the same (current liability which is accrued but not paid)
extraordinary items are those items of incomes which arise other than out of ordinary course of business.
Abhimanyu Bind
(CA Final Student & Audit Assitant)
(2049 Points)
Replied 26 October 2012
hi,
Exceptional items relate to material non-recurring items of
income and expense arising from circumstances such as:
- write-downs of inventories to net realizable value or of
property, plant and equipment to recoverable amount, as well
as reversals of such write-downs;
- restructurings of the activities of an entity;
- releases of provision
Etc.
GST Live Certification Course (39th Batch) - April 2024 (Weekend Batch) (With Certificate)
"Live class on Python for Financial Analysis: Unlocking Efficiency in Accounting and Finance"
CAclubindia
