ACCOUNTING OF INVESTMENTS MADE ON BEHALF OF CLIENTS

This query is : Resolved

Rajesh A M.com,MBA,ACS,LLB (Querist)
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09 February 2011 Dear Experts

Customs House Agent invests on behalf of importer/exporter for customs duty/shipping line charges etc., and claims from respective clients.During year end say, as on 31.03.11 there are investments made and will be claimed subsequently during 11-12

What is the accounting treatment?? Hope it can't be treaed as prepaid expenses since getting claimed from clients & expenses not pertains to this CHA entity

Kumar Babu.G

Kumar Babu.G (Expert)
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09 February 2011 They can be booked under Loans and Advances group since CHA is giving the amount for the purpose of investment which will be reimbursed later.

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