Guide us for accounting treatment of directors capital

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AshishLimaye

AshishLimaye (Querist)
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21 November 2013 Guide us for Accounting Treatment of Directors Capital

Nikhil Kaushik

Nikhil Kaushik (Expert)
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21 November 2013 Dear Ashish,

What you mean by director's capital.

AshishLimaye

AshishLimaye (Querist)
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22 November 2013 Director Capital means Directors Accounts consisting Receipts and Payments

Nikhil Kaushik

Nikhil Kaushik (Expert)
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23 November 2013 ok so that wont be referred as director's capital. In a company, director may receive credits for: salary, sitting, fees, commission. For such transactions, you may debit the respective expenses and credit Director's personal account. When payments are made to the director, bank account may be credited and director's personal account be debited.

In case company has incurred any personal expense of the director, director's account is to be debited and bank account needs to be credited. When payment is received from director, bank account should be debited and personal account credited.

care should be taken now as new companies act has prohibited giving loans to directors.

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