30 November 2013
Two letters and having different sequence.
Both have connected with the remuneration in the form of SALARY.
while salary advance denotes an advance which would be considered as repaid if an equal amount repaid by way of relinquishment of entitlement of salary. There may be another advance which would required to be repaid either lump-sum or in installments irrespective of salary.
Advance Salary means right to receive salary is not arise in favor of employee but he received it before his performance.
Accounting treatment of both will same as both are current assets.
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