Prinshu GuptaPrinshu Gupta asked 8 months ago

Sir My Question  regarding sec 130 and 131
IF Company Revision Financial Statement 2014-15.Then Company Should also revision Financial Statement 2015-16,2016-17 and onwards up to the date of particular revision  period. Because revision of financial statement  impacts of other years financial statement included  Board Reports

1 Answers
RaviRavi Staff answered 8 months ago

If revision of financial statements is having impact on subsequent year’s financial statements then they should also be revised. For example if there is change in depreciation then closing and opening of next year will change and hence they should be revised.
But if change is in presentation of of P&L , Cash Flow and no change in balance sheet then it may not impact next year.
so depends if its having impact on subsequent years 

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