Forums

All TopicsAccountancyAuditingCorporate & Other LawsDirect TaxationIndirect TaxationFinancial ManagementEconomicsCostingStrategic ManagementMaths & StatsExamsOthersAFMFinancial ReportingCFA Level I

Rectification of error

Accountancy

When do we need to use p&L adjustment account for rectification of errors

nisam M

nisam M

CA Final

★ 23K+

03-Feb-21 10:37

277

Answers (1)

For rectifying the errors detected in the next accounting period, a special account 'Profit and Loss Adjustment Account' is opened for correction of amounts relating to expenses and incomes.

ruchi lahoti

ruchi lahoti

CA Inter

★ 27K+

03-Feb-21 12:02

Individual Modules Offer
Adv Acc

Connect With Us

Sales

964-011-1110 / 913-331-0549

Support

915-491-1196

964-011-1110

support@indigolearn.com

Company

About Us

Contact Us

Careers

Information

Testimonials

FAQ

Terms & Conditions

Privacy Policy

Courses

CA Foundation (New)|

CA Inter (New)|

CA Final (New)|

CFA|

ACCA - Knowledge Level (L1)|

ACCA - Skills Level (L2)|

US CMA|

CMA Foundation (New)|

CMA Inter (New)|

CMA Final (New)|

Books|

Mock Test Series|

Mentorship|

Upskilling

Course Guides

CA Course Guide - Here Is How To Become a CA|

ACCA - A Comprehensive course guide|

CFA - Chartered Financial Analyst|

US CMA - A Course guide|

Online B. Com Degree - A Complete guide|

CA Foundation Course - A Complete Guide|

CA Inter - A Complete Guide|

CA Final - A Complete Guide|

CMA Course - A Complete Guide

Offerings

Buy Courses|

Free Courses|

Free Resources|

Free videos|

Forums|

News and Updates|

Blogs|

Testimonials|

APP 1FIN

CIN: U74999TG2017PTC116012 | GSTIN: 36AAECI4332C1Z0 | PAN: AAECI4332C