Chris, thank you, I needed that chuckle. You're a great lecturer and even better therapist.
A
akshaya·
So, for an under provision, the taxable expense coming on SPL will be the addition of c/f amount and the amount we add to it to make it equal to the b/f figure?
C
Califa·
when you do provision at lets say 31/03/2014 you put ESTIMATE for the next year, so when you're looking at 31/3/2015 this tells you this was estimate from last year 2014. This is because you need to wait whole 12 months to see how much tax you're expected to pay for 2014 and only in 2015 you can adjust to over or under.
H
Hope·
Wonderful delivery
M
Mwe·
Hey dear, would mind to help me on how to deal with statement of cash flow?
S
Sanchita·
Hello sir
How do we know if it's a under or over provision if actual tax paid amount is not given? Because usually we get to know about it by comparing prior year tax liability and actual tax paid.
C
Califa·
when doing T account: CR is OVER priovision, DR is UNDER provision, CR is deduction from current year tax estimate, under is addition to current year estimate
How do we know if it's a under or over provision if actual tax paid amount is not given? Because usually we get to know about it by comparing prior year tax liability and actual tax paid.