Regarding the treatment of Imprest Account

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Student
24 Points Posted on 12 August 2023
Imprest Account comes under which group?
A. Loans & Advances (Asset)
B. Current Assets
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On 12 August 2023 at 14:31 Report
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Quick Summary
This discussion clarifies the accounting classification of an Imprest Account. While often associated with cash and bank balances under Current Assets, it can also be considered under Loans & Advances, particularly when used for specific purposes like TA/DA or other departmental advances. The consensus leans towards its treatment as a Current Asset.

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Profession
28271 Points Posted on 12 August 2023
Current assets.
loans and advances are under non current assets.
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On 12 August 2023 at 14:40
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"Do the Right Thing...!!!"
128157 Points Posted on 12 August 2023
Under Loans & Advances
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On 12 August 2023 at 14:58
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Profession
28271 Points Posted on 13 August 2023
Imprest account falls within the scope of Current assets
Cash and bank..
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On 13 August 2023 at 08:41
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"Do the Right Thing...!!!"
128157 Points Posted on 13 August 2023
Cash and Bank is under Current Asset...
But, The imprest account is under Loans and Advances...
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On 13 August 2023 at 10:22
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CFO- at NHTF
58280 Points Posted on 13 August 2023
Current Asset

Advance

Imprest for TA/DA
Imprest for other sections
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On 13 August 2023 at 23:15

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