ANNEXURE J (MISCLASSIFICATION)
1. It is a statement prepared when an item of misclassification and other important mistakes either detected by Statutory Audit or by Accounts.
2. During the course of accountal in books, when an expenditure or income is wrongly appeared in any other head of account instead proper head of account, the mistake is know as misclassification.
3. During the course of Financial and other review it is checked that whether there is any booking misclassified and if found the same is regulated in same year through Journal Entry.
For example:
a) Booking in HBA instead of Motor Car.
b) Booking in one demand instead of another demand.
c) Booking in Revenue instead of Planhead etc.
1. It is a statement prepared when an item of misclassification and other important mistakes either detected by Statutory Audit or by Accounts.
2. During the course of accountal in books, when an expenditure or income is wrongly appeared in any other head of account instead proper head of account, the mistake is know as misclassification.
3. During the course of Financial and other review it is checked that whether there is any booking misclassified and if found the same is regulated in same year through Journal Entry.
For example:
a) Booking in HBA instead of Motor Car.
b) Booking in one demand instead of another demand.
c) Booking in Revenue instead of Planhead etc.
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