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REDEMPTION OF DEBENTURES

Sir, If the balance sheet date is 31 March and the board has decided on 1 st June that the debentures are to be redeemed at the end of the year or in coming future. As we create the DRR on 31 March of previous year and the investment on or before the 30 th April so do we have to consider this DRR as a prior period item as per the AS5 ?


aman kawad

aman kawad

CA Inter

7K+

29-Jun-20 12:15

16

Answers (2)

No it is not a prior period item. DRR will be created and investment will be made in the current year in which board decided.


ruchi lahoti

ruchi lahoti

Moderator

30-Jun-20 14:28

Thanks


aman kawad

aman kawad

CA Inter

7K+

30-Jun-20 14:43