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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 / chetan
according to AS 9 which states that expenses have to be shown in the balance sheet and outstanding expenses have to be charged to the profit and loss account under the head auditors remuneration....the opening stock wil be shown in the closing balance sheet under the head euity and capital according to the revised schedule VI....it will be divided into current and non-current and if the expense is for a period of more than 1 year it will be shown under the head current liabilities...miscellaneous expenditure cannot be shown according to the revised schedule VI.....
WE CANNOT BOOK CURRENT YEAR EXPENSE IN THE NEXT YEAR...ONLY IF THE EXPENSE IS GENUINE IT CAN BE BOOKED IN THE NEXT YEAR...YOU SHOULD NOT ASK SUCH DUMB QUESTIONS...1ST GO CLEAR YOUR CONCEPTS AND THEN IF YOU HAVE SOME CHALLENGING DOUBTS THEN ONLY COME AND ASK ME
| Is This Answer Correct ? | 1 Yes | 13 No |
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