HELLO||||||||||||||||
MAY I KNOW THE MEANING OF PRIOR PERIOD EXPENSES ?
AS PER SEC.36 THEY HAVE TO BE DISALLOWED.MY QUESTION IS I HAVE INCURRED SOME EXPENSES ON THE LAST DAY OF FY I.E., 31.03.09., BUT I HAVE RECEIVED THE BILLS FOR THE SAME IN THE MONTH OF APRIL'09 & MADE PAYMENT IN THE SAME MONTH. SO WHILE AUDITING WHETHER WE HAVE TO MAKE A NOTE OF ALL EXPENSES WHICH ARE INCURRED IN MARCH'09 & WHERE BILL RECEIVED & PAYMENT MADE IN APRIL'09.? HAVING NOTED ALL THOSE WHETHER I HAVE TO MAKE PROVISION AT THE TIME OF FINALIZING THE ACCOUNTS FOR 31.03.09 AH?
CAclubindia
