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Dear sir,
I do not understand why if provision costs reduce say from $90000(last year)to $75000(this year) then instead of adding up expense of 75000 to Adminitration expense we deduct 15000? Rational of this is absolutely not understood by me.
Any help would be very much appreciated!
Thanks in advance!
Please do not post the same question 3 times!!
Last year an expense will have been charged of $90,000. This year there is no extra expense but we find that last year the expense should have been only $75,000. We cannot now change last year so we correct it this year by reducing expenses by the difference of 15,000.
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