16 November 2013
'Every transaction changes your financial position' says a book. Now if I have 1 crore and I buy an apartment with the same amount, this is very much a transaction but how has my financial position changed? because I had an asset,cash 1 crore and now I have an apartment which is also an asset worth 1 crore.. so don't you think my financial status/position is still the same? If yes, what does the writer exactly mean by the above sentence?
CAclubindia
