Prior period item

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Co-Founder & Manager @ Tax-Yantra
1171 Points Posted on 12 July 2012

What is the base for classification of expenses as prior period expense?

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On 12 July 2012 at 21:55 Report
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Assistant Manager @ EY
955 Points Posted on 12 July 2012

I can say Matching Concept is the base. All the expns/ for a given period should be accounted for in such period itself.

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On 12 July 2012 at 22:28

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