Dear Friends,
The accountant of a client company issued a cheque to a creditor in the last F.Y. 2011-2012 but it has not been paid till date and has remained with the client company as on 31.03.2013. However, the accountant passed the relevant entry in the bank book of the client for issue of cheque in the F.Y. 20111-12. The B.R.S. has also been prepared accordingly.
What will be the accounting treatment of the above and how will the entire event be presented in the Final Accounts of the client company for the year ended 31st. March, 2013 ?
Please, if somebody can reply urgently.
Thanking you and with best regards.
CAclubindia
