Prior year adjustment | AccountingWEB

Prior year adjustment

In preparing 2011 accounts for CH and HMRC it has become evident that the Debtors were overstated in 2010. This led to  the turnover being overstated by 1.5% and also of course the PCTCT. What is the correct way to show this please?

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Doesn't this just reverse itself?

Steve Kesby |
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