Petty Cash Account

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back office asst
254 Points Posted on 13 March 2024
Sir, can I take petty cash account head in the profit and loss account
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On 13 March 2024 at 11:05 Report
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This discussion clarifies that a petty cash account should not be listed as a separate head in the profit and loss account. Instead, it is considered part of the firm's cash holdings and should be accounted for under the main cash account. Failing to do so may not be a proper disclosure according to Schedule III regulations.

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"Do the Right Thing...!!!"
128157 Points Posted on 13 March 2024
No... Petty Cash is one of the firm of Cash . So, it's under cash account only.
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On 13 March 2024 at 12:21
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Profession
28271 Points Posted on 13 March 2024
Not at all not a proper disclosure as per Schedule III
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On 13 March 2024 at 16:17

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