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Can we booked current years expenses in the next year ?
wahtever the answer plz provide me any proof for that
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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.
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