Cash accountancy method
This query is : Resolved
07 October 2012
if we file income tax return with adopting cash accounting method can we show creditiors and debtors in balance sheet. i have a confusion that if we adopt cash method that creditors and debtors should not be created in balance sheet. please mail me with answer
08 October 2012
Under cash accounting system, income and expense is recognised when the same is realised or paid, as the case may be.
Therefore, debtors and creditors will not appear in the Balance Sheet.
Therefore, debtors and creditors will not appear in the Balance Sheet.
08 October 2012
If the secured loan is obtained from bank, or amount is invested in FD with bank how it will be accounted and will it not appear in balance sheet?
12 October 2012
Secured loan will be shown in the Balance Sheet.
Also FD will be shown as investment. The accrued interest shall be shown as income if accrual basis of accounting is followed.
Also FD will be shown as investment. The accrued interest shall be shown as income if accrual basis of accounting is followed.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- NRI starting business in India
- ITDS U/S.194T of Firm
- ADVANCE PAYMENT OF ADVOCATE
- Unregistered suppliers utility
- Non-Compliance documents have not been submitted by the contractors debited
- EXPORT COMMERCIAL INVOICE HSN CODE
- URGENT-Eligible leaves being shown as 24 days for 3 years Articleship instead of 156 days in 108
- Filling ITR - U
- CREDIT NOTES WITHOUT GST
- Taxable or Tax exempt
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
