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WALLET BALANCE
How to treat paytm, amazon etc wallet balances in the financial statements?
Replies (2)
it part of cash and cash equivalents...
As per Ind AS 7,
1. Cash comprises cash on hand and demand deposits.
2. Cash equivalents are short-term, highly liquid investments that are readily
convertible to known amounts of cash and which are subject to an insignificant risk
of changes in value.
How to treat if such wallet balance consist of cashbacks which are allowed to use only for specific purposes i. e. which are not readily
convertible to known amounts of cash?
1. Cash comprises cash on hand and demand deposits.
2. Cash equivalents are short-term, highly liquid investments that are readily
convertible to known amounts of cash and which are subject to an insignificant risk
of changes in value.
How to treat if such wallet balance consist of cashbacks which are allowed to use only for specific purposes i. e. which are not readily
convertible to known amounts of cash?
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