Non cash items
This query is : Resolved
24 July 2012
In case of Company's Accounts as per Companies Act,1956 How do you define the term "Non cash Items" for the purposes of computing Cash profits/(Losses) after adding/deducting from Book profit/(Loss) as per Profit & Loss Account. I mean what the said term includes. for example Depreciation.
Please provide the illustrative list so far the term "Non cash items" includes is concerned.
Please provide the illustrative list so far the term "Non cash items" includes is concerned.
24 July 2012
Any debit or credit which is notional and no established cash obligation / outflow, is non cash item. This therefore does not include provisions debited in profit & loss account as they are similar to creditors.
Examples of Non cash items include:
1. liability/loan converted to equity
2. assignment of receivable and payables with third party.
3. Depreciation / amortisation
4. MTM of derivatives
5. Forex MTM
6. Impairment losses and reversals.
7. Converting receivables into ICDs (shift from operating to investing activity)
Examples of Non cash items include:
1. liability/loan converted to equity
2. assignment of receivable and payables with third party.
3. Depreciation / amortisation
4. MTM of derivatives
5. Forex MTM
6. Impairment losses and reversals.
7. Converting receivables into ICDs (shift from operating to investing activity)
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Tax on Deemed Capital Gain
- Scrutiny and reopening of past returns
- Pass word to open justification report for Q1 for FY 2026-27
- Section 194JA & JB Income which ITR Form to use
- PPF interest-As Exempt Income disclosure
- Booth for sales promotion
- F & O PROFIT REPORTING FOR AY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- Type of Capital Gain
- Difff in ais receipts and gst turnover
- ITR-3 File/Error Found
- Exiting partner in partnership firm in gst portal
- Taxability of credit in canara bank ET & T section (NRO)
- Consequences of Non-Deduction of TDS under Income Tax???????????????
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- PF Taxable Income
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
