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AS 4

Can anyone explain highlighted point

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Enuguru Sai Nithin

Enuguru Sai Nithin

CA Inter

76K+

20-Mar-21 20:35

16

Answers (1)

As per AS 4, adjustments arenâ??t required to assets and liabilities for events which occur after balance sheet date, in case such events donâ??t relate to the conditions which existed at balance sheet date. Assets are the existing resources of an enterprise, that give future inflow upon their use. Since, the cheques were received only after 31st March, till that date there was no event which indicated that there is an inflow of economic benefit. Hence this have been treated as a non-adjusting event


ruchi lahoti

ruchi lahoti

Moderator

20-Mar-21 20:48

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