Accounting head

C.A. Sandeep Wawhal (CA, PGDFM, BCom) (1831 Points)

21 July 2018

Friends,

Whether Payable to Internal Auditor will fall under catagory of Creditor for Expenses while preparing financial statment ?

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3 Replies

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 21 July 2018

Yes... The Internal Auditor account will be under Sundry Creditor Account...

Nitin Mahale (CA Student) (88 Points)
Replied 21 July 2018

It is under current liabilities: Audit fees payable.

RAJA P M ("Do the Right Thing...!!!") (128091 Points)
Replied 21 July 2018

Payable amounts are under "Current Liabilities".

Party Account under "Sundry Creditor".

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