Interest on delayed payment
This query is : Resolved
08 December 2009
hi friends
whenever supplier charges interest on delayed payments to buyer, correct treatment of it as operating income or non-operating income?
As per suggest correct opinion as per AS-9
whenever supplier charges interest on delayed payments to buyer, correct treatment of it as operating income or non-operating income?
As per suggest correct opinion as per AS-9
08 December 2009
It is non-operating income as the firm is not engaged in finance activities.
AS-9 says about only recognition of income and not the operating or non-operating income.
For operating and non-operating income; please refer AS-3 Cash Flow Statement.
Ca Surendra Rakhecha
Surat
AS-9 says about only recognition of income and not the operating or non-operating income.
For operating and non-operating income; please refer AS-3 Cash Flow Statement.
Ca Surendra Rakhecha
Surat
CA CHINTAN AJMERA
(Expert)
08 December 2009
Agre with expert
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