Form 4s

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 August 2014 in regard with form 4s ,whether the colum total cash balace includes cash in bank also or not?
2. colum sundry creditors includes bank o.d or not please discuss.
thanking you

CA P K AGRAWAL

CA P K AGRAWAL (Expert)
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20 August 2014 you can only show Cash in hand
and
Sundry Creditors not includes bank OD/CC only sundry business creditors

Nikhil Kaushik

Nikhil Kaushik (Expert)
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20 August 2014 have to disagree, you need to show the whole of the balance ie cash or cash equivalents.

Bank OD should be reduced from the cash and bank balance itself.

CA P K AGRAWAL

CA P K AGRAWAL (Expert)
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22 August 2014 Nikhilji how u can say that

Nikhil Kaushik

Nikhil Kaushik (Expert)
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22 August 2014 Agarwal Ji,

I believe this is a better disclosure. its a cash equivalent

CA P K AGRAWAL

CA P K AGRAWAL (Expert)
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22 August 2014 is there any clarification? how can you support ur reply

CA P K AGRAWAL

CA P K AGRAWAL (Expert)
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22 August 2014 m waiting for your reply nikhilji

Nikhil Kaushik

Nikhil Kaushik (Expert)
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22 August 2014 i already answered..............

CA P K AGRAWAL

CA P K AGRAWAL (Expert)
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22 August 2014 it is not cleared, is there any clarification, notification in this regard?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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22 August 2014 Sir, do we need a notification to consider whether bank is cash equivalent or not? if we go this way, we would ICAI to start defining each for word in the dictionary for us.

Rupesh Jain

Rupesh Jain (Expert)
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22 August 2014 for cash and cash equivalent normally include cash and bank bal. also. under sundry creditor only the creditors related to the business.

CA P K AGRAWAL

CA P K AGRAWAL (Expert)
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22 August 2014 we can show only cash in hand also