Can we booked current years expenses in the next year ?
wahtever the answer plz provide me any proof for that
- 6 Answers
- 18920 Views
- I also Faced
- E-Mail Answers
Answer Posted / indranath chakraborty
Under cash basis of accounting we can book any expenses
for any accounting year when it is actually paid but under
accrual/mercantile basis of accounting we are supposed to
book the expenses/revenues in the particular in whcih the
expenses / revenues are related to.
But under matching concept of accounting principle if
anything happens due to oversight that can be taken in the
next year with proper narration.
| Is This Answer Correct ? | 1 Yes | 1 No |
Post New Answer View All Answers
How to Computation Advance Tax For First Quarter
How will you calculate impairment of assets of a software company?what is the necessary steps briefly describe?
i need to pay around $90000 to Mr.R and the agreement clause says that any amount payable as tax are not included in the amount.So how much i need to deduct TDS...??
How auditing is prepared?
can external audit be seen as merely an overhead cost adding no value to the orgnisation
Which books are helpful for practising accounting's most tricky sums?
Why there is no opening balance for Profit and Loss Account?Refer me Detailed explanation. Thank you.
Explain the importance of evaluating an internal audit department?
Explain how to do an internal audit effectively?
What are the reasons for getting audited?
Explain the importance of internal audit to the organization?
What are the objectives of internal audit?
i have to finalize a mineral water co. for the year 2014-15 and i want to know that what will be rate of excise duty on sale of mineral water.
promotions of a new apointed auditor in cgda.
Define decommission liability?
