Events and transaction

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This discussion clarifies the difference between events and transactions, particularly concerning the purchase of assets. While transactions involve the exchange of goods, services, or money and are recorded financially, events are significant occurrences that may not be financially recorded. The key point is that the purchase of an asset, especially during a business acquisition, can be classified as an event.

tandle dyaneshwar g.

tandle dyaneshwar g. (Querist)

28 April 2024 Purchase of an assets is an event..... In which case?

Purchase of an assets is a transaction..... In which case??

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

28 April 2024 Transactions are usually related to the exchange of goods, services, or money between parties. Events can be any significant occurrence that takes place within the company or its environment. Transactions can be recorded in the company's general ledger, while events are not recorded in the financial records.

tandle dyaneshwar g.

tandle dyaneshwar g. (Querist)

16 May 2024 Thank you, but as question is specifically asked regarding purchase of assets only..... Assets purchases....how it is event is the point to understand... It is the question asked in CA foundation course.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

17 May 2024 Purchase of assets on the acquisition of business is an event.

tandle dyaneshwar g.

tandle dyaneshwar g. (Querist)

03 June 2024 Thank you sir, kindly elaborate 🙏🙏also clear exact distinction..... Bet'n transaction n event

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