Hi,
I have got a client who wants to change an accounting policy - recognition of the income- now they are generating invoive when client orders an item, but they want to change it to when it is despachted as they feell it is more accurate, stock easier to manage.
Can they change it throughout the year end??
And second questions, would I have to show in the accounts (according to UK Gaap) - prior year adj and recalculate comparatives so they can be compared etc?
Many thanks
Monika
I have got a client who wants to change an accounting policy - recognition of the income- now they are generating invoive when client orders an item, but they want to change it to when it is despachted as they feell it is more accurate, stock easier to manage.
Can they change it throughout the year end??
And second questions, would I have to show in the accounts (according to UK Gaap) - prior year adj and recalculate comparatives so they can be compared etc?
Many thanks
Monika