Dear members,
what would be the accounting treatment for accrued interest on the date of balance sheet when the investments belongs to earmarked/endownment funds.
2 Replies
vineet kumar
(Student CA IPC / IPCC)
(85 Points)
Replied 10 June 2015
Accrued interest will be recorded in the same financial year,in which they will inccured.As per fundamental accounting assumption
Anu K S
(Cleared CA Final)
(195 Points)
Replied 26 June 2015
If the fund is cumulative in nature, the interest is credited to the same.(in most of the cases)
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