Misc. Assets

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29 January 2011 cash ceased by a Authority can be shown under the head "Misc. Assets" if no what is the right treatment of it.

Vivek Raju P

Vivek Raju P (Expert)
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30 January 2011 Cash siezed by the authorities should not form part of the assets normally as it will not fall under the category assets as You are not in control of it. However if you have a strong case to prove and are certain that you will get that back, you i think may mention in notes to accounts something like " Cash xxxx has been siezed and not included in the total but co is fighting and is sure to get it back"

Other views welcome

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