Voluntary separation payment
This query is : Resolved
Nitesh pant
(Querist)
12 January 2015
what is it and why does it appear on asset side?
12 January 2015
It is a payment to employees for terminating their services to the company.
The benefit for the expense is available to the company over the remaining part of service period of employees. Hence the payment should be shown as asset in the Balance sheet of the company and should be amortized over the remaining part of the period
The benefit for the expense is available to the company over the remaining part of service period of employees. Hence the payment should be shown as asset in the Balance sheet of the company and should be amortized over the remaining part of the period
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