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AS 4 provision

if debtor may be insolvent becouse of any panding legal case lodged on him, if this condition before balance sheet if exist, but management does not knew about his insolvency and accounts of books have been finalised before taking as4 provision , is it prior period items in which magt knows


DEEP VICKY

DEEP VICKY

CA Inter

365

26-Nov-20 16:11

7

Answers (4)

If management does not know, it cannot be a prior period item.


Suraj Lakhotia

Suraj Lakhotia

Admin

26-Nov-20 16:15

Thanks sir


DEEP VICKY

DEEP VICKY

CA Inter

365

26-Nov-20 16:16

Thanks sir

Record PPI only in case of error or omission


Kumarjit Dey

Kumarjit Dey

CA Inter

4K+

26-Nov-20 17:13

Ok friend


DEEP VICKY

DEEP VICKY

CA Inter

365

26-Nov-20 17:14