[adithya15]

Thanks to Mr. John for your lecture videos and timely doubt clarifications. Passed PM with 66% in the December 2024 sitting.

Regards
Adithya Shankar
( from India)

[adithya15]

Thanks sir, got it!

[adithya15]

My understanding:

If the goods were returned during the current fianacial year and credit notes were issued post year end then, the auditor has verifty whether the sales recognised in the previous year is reversed.

if the goods were returned post year end then do we need to create an allowance for the loss of sales in current year financials?

[adithya15]

got it thanks sir!

[adithya15]

Thank a ton for your reply. got Clarified

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