AS 4 provision

Accountancy

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

CA Final

★ 685

26-Nov-20 16:11

699

Answers (4)

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

CA Suraj Lakhotia

Admin

26-Nov-20 16:15

Thanks sir

Thread Starter

DEEP VICKY

CA Final

★ 685

26-Nov-20 16:16

Thread Starter

DEEP VICKY

Thanks sir

Record PPI only in case of error or omission

Kumarjit Dey

CA Inter

★ 4K+

26-Nov-20 17:13

Ok friend

Thread Starter

DEEP VICKY

CA Final

★ 685

26-Nov-20 17:14