Go Ad-Free on CAclubindia with Daily Mobile Updates. Subscribe Now!

Bank statement which value to disclose in BS

25 January 2023

Dear Chartered Accountants ,in financial statement balance sheet under Current asset

cash at bank ...in this head which balance I have to enter ???

if I have three or four account means for an example savings account and current account which balance I have to show in cash at bank???

Reply
Follow
Share

6 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177852 Points)
Replied 25 January 2023

All the accounts relevant to the business.

Generally savings account is not included.

2 Like

Upgrade to CAclubindia Pro. Subscribe Now!

MPR Sanjay Kumar (3118 Points)
Replied 25 January 2023

@ honourable CA thank you sir ,I have some query ,suppose we are making for individuals means can we take savings account???

here bank balance means last closing balance only I have to shown in my BS IAM I right

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (177852 Points)
Replied 25 January 2023

Unless capital account is also linked with business account, savings accounts are kept out of the financial statements.

Yes, closing balances, sometimes adjusted to bank reconciliation.

2 Like

sabyasachi mukherjee (27574 Points)
Replied 26 January 2023

Cash at Bank after reconciliation.

Yasaswi Gomes new (Finance ) (4514 Points)
Replied 27 January 2023

Savongs of the company is relevant if im correct as per the frame work called business entity concept. @ Dhirajlal is amazing and stuffed with good process knowledge including shares. I dont know why I am CEO learning from MD's

1 Like

Upgrade to CAclubindia Pro. Subscribe Now!

sabyasachi mukherjee (27574 Points)
Replied 27 January 2023

Bankreconciled figure to be shown at balance sheet
so it's balance as per pass book.