Please Help !!!!!!!!!!!!

i wud like to share my experience here about post dated cheques.
When the company issues a post dated cheque it passes the following entry:
(i)Party debit
To PDC payable with total amount
Bank account is not debited at the tym of issue.
When the date of chq arrives following entry is passed
(ii)PDC debit
To bank
In case of situations like at the tym of closing,entry (i) is reversed and amt becomes reflecting in party account.
Hence I can safely conclude that notes or pdc payable is a purely practical concept,explained by ur as well as my example. Whereas accounts payable is the amount of creditors payable by the entity

Dear Mohd Atir,

Thanks for your quick Reply.

I totally agree with what you have said. 

I want to know what do we mean by a Notes Payable?  Is it similar to that of Bills Payable? 

It so then I think a Post Dated Cheque doesn't fall in to the category of Bills Payable.

under the above circumstances, what would be the journal entry for a post dated cheque issued?

i didnt get ur question,wat r u trying to ask?

I need to know the exact definition of "Notes Payable Account".  if you can refer any book from where the definition is quoted would be of great help.

what items can be included / posted into this account (Notes Payable Account)?  Does Post Dated Cheques are treated as Notes payable?

Please clarify whether the entry of posting (crediting) directly to the bank account on the day when the PDC was issued is wrong?  It will appear in the Bank Reconciliation statement every time the bank account is reconciled and one can have a clear Idea as to how many PDC's are due to be presented in the bank. If this procedure is wrong, on what basis? Please clarify by giving reference of Accounting Standards.

Please note that, i am seeking the definition and IAS references as we are in the middle of deciding the accounting policy.  Your information will be of great help.