29 May 2008
Hi frnds Will the debit balance of the Director's account(not in the nature of loan) in a listed company's books amount to "Loan given to Director" ? Also is there any disclosure requirement as per statutes?
02 June 2008
for e.g. I audited the books of a listed company.The company has incurred personal expenditure of the director amounting to Rs 50000 and debited the director's a/c. This was not adjusted against his remuneration. Does the debit balance standing in the director's a/c amounts to " Loan given to Directors" ? Are there any disclosure requirements regarding this amount on the face of financial statements?
CAclubindia
