Dear members,
what would be the accounting treatment for accrued interest on the date of balance sheet when the investments belongs to earmarked/endownment funds.
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Accrued interest under fund based accounts
Replies (2)
Accrued interest will be recorded in the same financial year,in which they will inccured.As per fundamental accounting assumption
If the fund is cumulative in nature, the interest is credited to the same.(in most of the cases)
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