Hi Friends,
Could you advise me what is inter company account Mean, Whow it is used what is the entries etc.& accounting standard?
Thanks in advance.
avdhesh 007 (C.A,C.S STUDENT) (32 Points)
23 June 2010Hi Friends,
Could you advise me what is inter company account Mean, Whow it is used what is the entries etc.& accounting standard?
Thanks in advance.
V P Narasimhan
(Accounts Manager)
(791 Points)
Replied 01 February 2011
Dear friend
Inter company is nothing but transaction occurred between group companies. A Company may have subsidy companies and the accounts dealt with each company is called inter company.
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