branch accounting
This query is : Resolved
PARDEEP SINGH
(Querist)
03 August 2010
Dear Sir
Our company is having Two branches, if from first one branch's current account any amount get credited into second one brnach then.
Then while maintaining the second branch account in which head the the account will be showed. (First one branch current account.)
Thanks in advance
Our company is having Two branches, if from first one branch's current account any amount get credited into second one brnach then.
Then while maintaining the second branch account in which head the the account will be showed. (First one branch current account.)
Thanks in advance
03 August 2010
IN SECOND BRANCH IT WILL BE PART OF CAPITAL BY NAME OF INTER UNIT BRANCH A/C.
AT THE TIME OF CONSOLIDATION OF ACCOUNT FOR FINANCIAL RESULTS , IN ONE BRANCH IT IS SHOWN IN LIABLITIES SIDE AND IN SECOND IN ASSET SIDE. IN CONSOLIDATED FINACIAL RESULTS , NO EFFECT IS TAKEN OF THESE BALANCES.
AT THE TIME OF CONSOLIDATION OF ACCOUNT FOR FINANCIAL RESULTS , IN ONE BRANCH IT IS SHOWN IN LIABLITIES SIDE AND IN SECOND IN ASSET SIDE. IN CONSOLIDATED FINACIAL RESULTS , NO EFFECT IS TAKEN OF THESE BALANCES.
VINOD ARORA
(Expert)
03 August 2010
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