Tuesday, August 28, 2018
MIS CLASSIFICATION OR ANNEXURE “J”
1990,1993,1994 (with Books) 5 Marks - short notes question
Ü During the course of accountal in books, an expenditure or income wrongly appeared in any other Head of Account instead of Proper Head of account, the mistake is known as MIS CLASSIFICATION.
Ü During the course of financial and other reviews, it is checked that whether there is any booking misclassified and if found the same is regulated in the same year through Journal entry.
Ü Examples are:
§ Booking in HBA instead of Motor Car advance.
§ Booking in Coaching Earnings instead of Goods Earnings.
§ Booking in One Demand instead of another Demand.
§ Booking in Revenue Demand instead of Plan heads or vice –versa.
Ü A statement showing items of misclassification and other important mistakes either detected by Statutory Audit or by Accounts should be prepared in ANNEXURE – J (Statement of important misclassifications and Other important mistakes detected)
Ü Pro forma of Annexure J is as follows.