Answer Posted / h.r. sreepada bhagi
In respect of some expenses for a financial period, bills
would not have come, actual calculations could not be done
(For some reason), payments not made and for any reason any
expense can not be accounted during that period, provision
needs to be created at the end of that financial period with
reasonable amount to prepare the Profit & Loss A/c for that
period as correct (Not accurate) as possible & show
relatively correct position in the period-end Balance Sheet.
It's according to accrual concept & matching (Revenue &
Cost) concept.
| Is This Answer Correct ? | 3 Yes | 1 No |
Post New Answer View All Answers
sir i want aao lic exam model question paper
I want to know that , If we called a person for one day for drive our company van or any other purpose. so how it will accounted in our (i.e companies) Books of accounts....
How does a bank or financial institution calculate COGS? What are the 'direct' costs of a loan or deposit revenue operation?
How often is the stock market ticker updated? 15sec? 30sec?
Does provisions need to be subtracted from reserves if net worth is calculated on the basis of share capital based method
I am Simrat Kaur. I am persuing graduation from P.U. I have an experience of 14 months as a CSA. But i hav an experience letter of 6 months.But I can show my joinin letter of the other job. I hav knowledge of basics of computer & internet. Actually, m findin job in chandigarh. I am findin the right opportunity. so, Can u plz help me in findin the right job?? Can u plz tel me abt where interviews r goin on?
Does any one attented HSBC audit compliance test? Please let me know asap. suraj
I want to validate Customer credit payment with customer invoice, When billing time, the system check the customer credit payment, if customer credit is lesser than customer bill, system should not allow the billing further process. Can I configure in sap
what is correct accounting treatment for preliminary exps and pre-operative Expsas per AS 26? or any other applicable AS?
MY QUESTION IS THAT IS WHEY WE SELL THE UPS IN THE MARKET BUY FROM THE IMPORT WHAT THE DUTY WE WILL FORWARD TO THEM.
Occasionally it is said that issuing convertible bonds is better than issuing stock when the firms shares are undervalued. Suppose that the financial manager of Decent Furniture Company does in fact have inside information indicating that the decent stock price is too low. Decent furniture earnings will in fact be higher than investor’s expectations. Suppose further that the inside information cannot be released without giving away a valuable competitive secret. Clearly, selling shares at the present low price would harm Decent’s existing shareholders. Will they also lose if convertible bonds are issued? If they do lose in this case, is the loss more or less than it would be if common stock is issued? Now suppose that investors forecast earnings accurately, but still under value the stock because they overestimate Decent’s actual business risk. Does this change your answer to the questions posed in the preceding paragraph? Explain.
Is it possible to list only a portion of Equity Shares leaving the balance as unlisted?
hat is the meaning of the capital ique,and hat is capital,and ahat is ique
STATE THE DIFFERENCE BETWEEN BANKING FIS AND NON BANKING FIS
In the case of Internal Reconstruction of company Accrued Int. On debenture / Outstanding int. On debenture transfer or not in capital reduction a/c . Explain
