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Treatment of bank guarantee in the financial statement

This query is : Resolved 
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(Querist)
02 August 2018 one of my supplier asked the bank guarantee(BG).i give him BG (issued by bank in favor of supplier).am i right if i show this BG amount in notes to account of Financial statement as contingent liability.
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
02 August 2018 Yes show it on notes on accounts.
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CMA Sivarama Krishnan TS

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CMA Sivarama Krishnan TS (Expert)
03 April 2019 Yes show it on notes on accounts under Contingent Liabilities
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