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
Keywords
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