Can we booked current years expenses in the next year ?
wahtever the answer plz provide me any proof for that
- 6 Answers
- 18893 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
Explain tangible assets?
What does an internal audit charter contain?
How to Computation Advance Tax For First Quarter
Would you consider alternative vacancies if so which:
What is an internal audit?
Why a company or firm should carry out the audit related work.
Explain how to do an internal audit effectively?
what percent of wages calculate from sales of a firm (registered under manufacturing of machinery spares) sales (appr)- RS.10000000/-
How will you calculate impairment of assets of a software company?what is the necessary steps briefly describe?
How I can evaluate the internal control audit?
what supporting documents do we vouch to for sales, purchases, receivables, payables, sales cutoff, and liabilities cutoff?
Define decommission liability?
Whether Advance against property to be included in Loans & Advances while referring to section 185 & 186 of Companies Act, 2013?
accounting & audit system of film production enterprises
How auditing is prepared?
