Related party disclosure please help
Ankush (Student) (1369 Points)
16 December 2020
do we need to disclose closing balance of party as well
2 Replies
CA Saloni
(Manager-Accounts & GST Consultant)
(5124 Points)
Replied 16 December 2020
If you are asking for the Balance Sheet notes then yes outstanding balances at the end of the year are to be shown.
gameplaysNmore
(96 Points)
Replied 17 December 2020
Yes, the closing balance payable at the the year end will form part of related party disclosure.
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