Many times, if you are the intended stakeholders to read the balance sheet, you will see the balance sheet presentation of input tax and output tax amount without indicating the reporting period of the amount.
In the above example, for clarity, as a best practice, we recommend to present input tax and output tax with the period specified in the accounts name to show the reporting period from Dec 2025 to end Feb 2026, for the month of Jan 2026 accounts.
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Chartered Accountant, Singapore • Certified ACTA Trainer • Business Mentor
With over 12 years of experience in MCST accounting and property management, our team provides expert insights and practical solutions for managing agents and property owners.
Contact author (sales@realtimme.net)Published: 23/02/2026
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