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WALLET BALANCE

komati reddy rohith (8 Points)

16 April 2019  
How to treat paytm, amazon etc wallet balances in the financial statements?

 2 Replies

CA Parth Shah (Job - Practicing in GST)   (141 Points)
Replied 16 April 2019

it part of cash and cash equivalents...

komati reddy rohith (8 Points)
Replied 16 April 2019

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?

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