Hi Experts !
can any body tell how to calculate interest on Inventory Funding Account ? is there any peculiar procedure for interest calculation on inventory funding account.? because i have calculated in normal way as follows:
the due amount
the due days and
rate of interest applicable
are considered and interest calculated...but in the bank statement we get different amount of interest.
It is observed that they are calculating indent wise...may i know how to find indent details in bank statement which is not available any where!
Plz help dear experts if you have any idea on this!!!
Thanks for reading this !!!
CAclubindia
