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Loan aganist fixed deposit

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Querist : Anonymous

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Querist : Anonymous (Querist)
08 October 2012 sir our company have Fixed deposit with bank last month we received credit from bank towards loan aganist Fixed deposit please tellme accounting treatment
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CA Kishore Tallam

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CA Kishore Tallam (Expert)
09 October 2012 Nothing specific accounting treatment to it.
For Loan:
Bank A/c Dr
To Loan A/c
In financials, you need to disclose that FD has been lodged as security for loan availed.
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Querist : Anonymous

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Querist : Anonymous (Querist)
09 October 2012 thank you sir
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