Bank balance in the balance sheet
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 February 2013
DO WE NEED TO TAKE THE BALANCE OF BANK ACCOUNT IN THE BALANCE SHEET ONLY AS PER ADJUSTED CASH BOOK OR SHALL WE NEED TO CONSIDER EVEN THE TIMING DIFFERENCES SAY FOR EXAMPLE: CHEQUES ISSUED BUT NOT YET PRESENTED.
I THINK CONSIDERING THE AS 4 " EVENTS OCCURING AFTER BALANCE SHEET DATE" WE NEED TO CONSIDER EVEN THE CHEQUES ISSUED BUT NOT YET PRESENTED PROVIED THAT THEY HAVE BEEN PRESENTED BEFORE APPROVAL OF THE FINANCIAL STATEMENTS.
I THINK CONSIDERING THE AS 4 " EVENTS OCCURING AFTER BALANCE SHEET DATE" WE NEED TO CONSIDER EVEN THE CHEQUES ISSUED BUT NOT YET PRESENTED PROVIED THAT THEY HAVE BEEN PRESENTED BEFORE APPROVAL OF THE FINANCIAL STATEMENTS.
06 February 2013
yes sir, bank balance of book either presented or not has to shown in balance sheet.
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