Accounting for money lender

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138 Points Posted on 02 February 2022

if money lender gives 1crore to a client and take registry of clients property 1.5 crore as a security after a year client doesn't repay the principle as well as interest so what are the accounting treatment  if the money lender sell the properties at 2 crore  

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On 02 February 2022 at 15:14 Report
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Quick Summary
This discussion explores the accounting treatment for a money lender when a client defaults on a loan. It covers how to record the initial advance as an asset and addresses the scenario where the lender repossesses and sells the client's property to recover the principal, interest, and profit. The conversation touches on RBI regulations and the fundamental principle that advances are treated as assets.

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Profession
28267 Points Posted on 02 February 2022
No accounting for money lender.
any advance given to anyone is an asset in his books.
Àdvance Dr.
credit bank
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On 02 February 2022 at 22:16
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1359 Points Posted on 02 February 2022
Why ? no accounting for money lender can you explain
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On 02 February 2022 at 22:46
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Profession
28267 Points Posted on 03 February 2022
RBi regulates.
1 Reply
On 03 February 2022 at 09:44

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