Prior period items

A/c entries 2662 views 5 replies

Sir,

we have already closed the financial statements and send to auditors . But we received few bills pertaining to feb & mar for which tds is also applicable, for which we have not made provision also. My query is whether we can account this bills now & ask our auditors to change the B.S. & p&l a/c. Is there any problem if i book this entries in the cur. yr. Is it allowable?

Please reply soon

Replies (5)

For the above query this should not to be the headline"No need to remember PAN"

Please check then post.

 

It depends upon your auditors discrtion

Yes it can be done, until the audit is finalised, we can make the necessary changes to the financials. You can convey to your auditors that a provision has to be made for these expenses and thus change the financials. This is even so because the financials sent at the start of an audit are generally draft financials which do undergo changes during the course of the audit.


CCI Pro

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register