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AS 5

In first imge they treated it as a prior period In second image they treated it as exceptional item The question is some what same way in both cases there is uncertainty in collection at the time Why ??? Please reply ...

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IMG_20210322_082604.jpg

IMG_20210322_082521.jpg


Enuguru Sai Nithin

Enuguru Sai Nithin

CA Inter

76K+

22-Mar-21 08:30

20

Answers (4)

As per the second image, it was assumed that collectability of claim was un certain in earlier periods. Hence, cannot be a prior period item.


ruchi lahoti

ruchi lahoti

Moderator

22-Mar-21 11:18

As per the second image, it was assumed that collectability of claim was un certain in earlier periods. Hence, cannot be a prior period item.

If we take such assumption in first image then it will also be not treated as prior period item ?? Can I write like that in exam


Enuguru Sai Nithin

Enuguru Sai Nithin

CA Inter

76K+

22-Mar-21 11:20

Yes. You can give all angles and assumptions.


Suraj Lakhotia

Suraj Lakhotia

Admin

22-Mar-21 13:58

Yes. You can give all angles and assumptions.

Ok sir


Enuguru Sai Nithin

Enuguru Sai Nithin

CA Inter

76K+

23-Mar-21 17:51

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