Loan to director
This query is : Resolved
29 May 2008
Hi frnds
Will the debit balance of the Director's account(not in the nature of loan) in a listed company's books amount to "Loan given to Director" ?
Also is there any disclosure requirement as per statutes?
Will the debit balance of the Director's account(not in the nature of loan) in a listed company's books amount to "Loan given to Director" ?
Also is there any disclosure requirement as per statutes?
30 May 2008
i think yes, btw how this happened? if u give clear facts, would be easy to answer.
02 June 2008
for e.g.
I audited the books of a listed company.The company has incurred personal expenditure of the director amounting to Rs 50000 and debited the director's a/c. This was not adjusted against his remuneration.
Does the debit balance standing in the director's a/c amounts to " Loan given to Directors" ?
Are there any disclosure requirements regarding this amount on the face of financial statements?
I audited the books of a listed company.The company has incurred personal expenditure of the director amounting to Rs 50000 and debited the director's a/c. This was not adjusted against his remuneration.
Does the debit balance standing in the director's a/c amounts to " Loan given to Directors" ?
Are there any disclosure requirements regarding this amount on the face of financial statements?
03 June 2008
yes, it will amt to loan to directors.
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