Fixed deposit

This query is : Resolved 

27 October 2012 what is the accounting treatment of FD. CAN I TREAT IT AS CASH & CASH EQUIVALENTS UNDER BANK ACCOUNT OR TREAT AS INVESTMENT AND CLASSIFIED AS CURRENT AND NON-CURRENT ASSETS AS PER REVISED SCHEDULE VI

28 October 2012 Please consider under current and non-current assets.

29 October 2012 Hello,

The term cash and cash equivalents have been defined in AS-3 and therefore the interpretation should be drwan from this AS 3 for the purposes of revised Schedule VI as well. Accordingly, the Fixed Deposits with a bank that have a maturity of less than 3 months from the date of acqusition should be treated as Cash and Cash Equivalents. Other Fixed Deposits should continue to be treated as Other Deposits with the banks.

Trust this helps




You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries