Accounts

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 October 2011 When can a fund be shown in the balance sheet ? ? only when the asset related to the fund exist ? if money recd for meeting expense it cannot be shown in b/s as it is not for an asset? pls explain

CA Pushpendra Gaur

CA Pushpendra Gaur (Expert)
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11 October 2011 Fund is to be shown in the B/S when the fund has been recd for specific purpose and the same remains unutilised at the year end.

The purpose must be specific irrespective of capital /revenue nature

CA Pushpendra Gaur

CA Pushpendra Gaur (Expert)
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11 October 2011 The fund to be shown till the time it is unutilised, on the complete utilisation for capital purpose, it must be transferred to Capital fund and corresponding asset to be shown in balance sheet

CA Pushpendra Gaur

CA Pushpendra Gaur (Expert)
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11 October 2011 If the donation is specifically recd for meeting expenses and the same remains unutilsed at the year end
the same in the name of fund can be shown in the balance sheet as Meeting Fund.
Receipt for specific purpose is the key factor which determines the fund to be maintained

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