Dear members,
what would be the accounting treatment for accrued interest on the date of balance sheet when the investments belongs to earmarked/endownment funds.
KB Venugopal (AO) (26 Points)
08 June 2015Dear members,
what would be the accounting treatment for accrued interest on the date of balance sheet when the investments belongs to earmarked/endownment funds.
vineet kumar
(Student CA IPC / IPCC)
(85 Points)
Replied 10 June 2015
Accrued interest will be recorded in the same financial year,in which they will inccured.As per fundamental accounting assumption
Anu K S
(Cleared CA Final)
(195 Points)
Replied 26 June 2015
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