08 June 2009
Where to Interest On Fixed Deposit with Bank, whether in (a) under Cash & Bank Schedule (b) under Other Current Assets (c) Any Other Place
08 June 2009
The Interest accrued on Fixed Deposits should be shown under Group of Cash and Bank. The reason of such classification is just like Principal amount the interest further accues on the earlier accruals and all accretions to an investment partake the very nature of the original investment.
CAclubindia
