Results of tax inspection of prior periods in accounting ledgers
Journal Title: Zeszyty Teoretyczne Rachunkowości - Year 2011, Vol 2011, Issue 60
Abstract
The article presents methods of entering the results of tax inspection into accounting ledgers. One of the main problems is determining the exact time period to which the tax inspection results relate. In practice, it consists in establishing whether the prior period financial statement has been approved or not. In the first case, after the financial statement has been approved, the results of the tax inspection are entered into ledgers of the period when the errors were discovered. And if the irregularities relate to the period of which financial statement has not been approved yet, they should be corrected in the ledgers of the period that the error occurred in.Another problem is determining the influence that the discovered irregularities have on the reliability of the financial statement, i.e. whether the errors are ma-terial or not. And so, material errors should be put to own capital (funds) and pre-sented as „retained profit or loss”, while not material errors are entered into ledg-ers of the period when they were discovered. However, even if they concern the basic operating activities, the effect of correcting the error should be presented in either „other operating income” or „other operating costs”.
Authors and Affiliations
Marzena Wrona
Stosowanie narzędzi polityki rachunkowości w polskich szpitalach
Polityka rachunkowości jest definiowana jako zbiór zasad, rozwiązań, reguł i procedur dobranych przez zarząd podmiotu odpowiednio do odwzorowania jego rzeczywistej pozycji finansowej, dochodowej i doko-nań. Może ona być...
Interorganizational management accounting: scope and specificity
Due to dynamic development of business networks worldwide the phenomenon of interorganizational management accounting is attracting increasing attention. The aim of the paper is to present the main characteristics and sc...
Impairment of fixed assets – analysis of the practice of companies listed on Warsaw Stock Exchange in 2007–2009
The objective of the paper is to analyse the determinants of recognising impairmentlosses by companies listed on Warsaw Stock Exchange. We hypothesised thatboth the probability of impairment losses and their amounts depe...
Hierarchy of qualitative characteristics of financial statements of enterprises during insolvency proceedings
According to IFRS, if financial information is to be considered useful to users, it must have certain quali- tative characteristics, such as relevance and faithful representation. Complementary features are compa- rabili...
Disclosing the effects of changes in accounting policies in the financial statements
The article deals with presentation in the financial statements of the effects of changes in accounting policies. It offers a critical analysis of current accounting regulations in this area – IAS 8 Accounting Policies,...