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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.
The idea is that last you provisioned some amount for tax and paid some tax and you still have $400 left on Credit side. So you don’t really need to know exactly how much you provisioned and paid last year, most important thing is that you have $400 provision left from last year (which means last year was overprovisioned)
Thanks
Hi, great lectures, many thanks!
On the example, should the trial balance CR of 400 be as at 31st March 2014 (not 2015) if it is a brought forward number?
Hey dear, would mind to help me on how to deal with statement of cash flow?