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21 June 2012 What should the accounting treatment of Rent free accommodation? Plz help..

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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22 June 2012 There is no accounting treatment for RFA. It is a concept applicable only for Income Tax purpose.

In accounting books, the rent paid by the employer shall be recorded as an expense.

Querist : Anonymous

Querist : Anonymous (Querist)

22 June 2012 Thanks a lot, but what should be the treatment of building which owns by the employer and in which accommodation provided by the employer to the employees? Where is it to be shown and under what? Plz Help...

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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22 June 2012 It will be shown as an asset under Fixed Assets.

Querist : Anonymous

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22 June 2012 Thank You...

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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22 June 2012 You are welcome. You should use the thanks button to convey your thanks.

Querist : Anonymous

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22 June 2012 Which of the Accounting Standards are specifically applicable to Charitable Trust? Can ny one tell this??